Novem Group Raises Stock Holdings in Invesco QQQ $QQQ

Novem Group boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 102.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689 shares of the exchange traded fund’s stock after purchasing an additional 1,864 shares during the quarter. Novem Group’s holdings in Invesco QQQ were worth $2,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bay Capital Advisors LLC raised its holdings in Invesco QQQ by 3.7% in the second quarter. Bay Capital Advisors LLC now owns 27,946 shares of the exchange traded fund’s stock worth $20,580,000 after purchasing an additional 991 shares in the last quarter. Wilkerson Advisory Group LLC lifted its position in shares of Invesco QQQ by 3.2% during the second quarter. Wilkerson Advisory Group LLC now owns 20,534 shares of the exchange traded fund’s stock valued at $15,122,000 after buying an additional 642 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Invesco QQQ by 14.5% in the 2nd quarter. LS Investment Advisors LLC now owns 1,487 shares of the exchange traded fund’s stock valued at $1,095,000 after buying an additional 188 shares in the last quarter. Summitry LLC boosted its holdings in shares of Invesco QQQ by 51.9% in the 2nd quarter. Summitry LLC now owns 1,350 shares of the exchange traded fund’s stock valued at $994,000 after buying an additional 461 shares in the last quarter. Finally, Legacy Advisory Services LLC bought a new stake in shares of Invesco QQQ in the 2nd quarter valued at about $239,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Cooling inflation and weaker labor-market data have reduced expectations for additional Federal Reserve rate hikes. Lower-rate expectations generally support QQQ’s technology and other growth-oriented holdings by improving the outlook for future earnings valuations. However, geopolitical risks around the Strait of Hormuz could keep oil prices and inflation volatile. Cooling Inflation Likely to Aid These ETF Areas
• Positive Sentiment: Exchange-traded funds were broadly higher before Friday’s opening, with investors awaiting retail-sales data. A constructive broader-market tone provided some support for QQQ, although mixed equity futures limited the follow-through. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday Amid Retail Sales Data
• Positive Sentiment: Potential large technology IPOs, including Anthropic, could add another high-profile growth company to the Nasdaq ecosystem and potentially reinforce investor interest in technology-focused funds. Any direct benefit to QQQ would depend on the company’s eventual listing and index eligibility. Millions of 401(k) Holders Could Be Forced to Buy Anthropic Stock
• Neutral Sentiment: Investor sentiment is mixed: cooling inflation supports equities, but a historically elevated CAPE ratio and concerns about credit-market stress suggest that QQQ’s strong rally has left it vulnerable to volatility and profit-taking. What An All-Time High CAPE Ratio Implies for Investors
• Negative Sentiment: Investor Michael Burry has increased his bearish position against the QQQ ETF despite losses. The trade does not change the fund’s holdings, but it highlights skepticism about elevated technology valuations and may weigh on sentiment. Michael Burry Ramped Up His Bets Against Micron and the QQQ ETF

Invesco QQQ Stock Down 0.1%

Shares of Invesco QQQ stock opened at $731.07 on Friday. The firm’s 50 day moving average price is $713.13 and its 200-day moving average price is $664.89. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a $0.8135 dividend. This represents a $3.25 annualized dividend and a yield of 0.4%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

About Invesco QQQ

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.