Citizens Financial Group Inc. RI Sells 10,089 Shares of Invesco QQQ $QQQ

Citizens Financial Group Inc. RI lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,943 shares of the exchange traded fund’s stock after selling 10,089 shares during the quarter. Invesco QQQ accounts for about 0.9% of Citizens Financial Group Inc. RI’s investment portfolio, making the stock its 24th largest position. Citizens Financial Group Inc. RI’s holdings in Invesco QQQ were worth $62,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QQQ. Brighton Jones LLC lifted its stake in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of Invesco QQQ in the second quarter valued at about $290,000. Wealth Group Ltd. lifted its position in shares of Invesco QQQ by 283.7% in the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after acquiring an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Invesco QQQ by 1,057.3% in the second quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock worth $18,239,000 after acquiring an additional 30,206 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $2.23 during trading on Friday, hitting $725.51. 26,367,856 shares of the company’s stock were exchanged, compared to its average volume of 40,630,508. The business’s 50-day simple moving average is $718.41 and its 200 day simple moving average is $650.06. Invesco QQQ has a 52-week low of $551.56 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a yield of 0.4%.

More Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.