Trademark Financial Management LLC Sells 1,727 Shares of Invesco QQQ $QQQ

Trademark Financial Management LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 20.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,781 shares of the exchange traded fund’s stock after selling 1,727 shares during the quarter. Invesco QQQ accounts for about 2.0% of Trademark Financial Management LLC’s holdings, making the stock its 13th largest position. Trademark Financial Management LLC’s holdings in Invesco QQQ were worth $4,994,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QQQ. Straight Path Wealth Management bought a new stake in Invesco QQQ during the second quarter valued at about $300,000. Rockport Wealth LLC raised its stake in shares of Invesco QQQ by 1.5% in the second quarter. Rockport Wealth LLC now owns 7,968 shares of the exchange traded fund’s stock worth $5,868,000 after buying an additional 120 shares during the period. Blueline Advisors LLC raised its stake in shares of Invesco QQQ by 1.9% in the second quarter. Blueline Advisors LLC now owns 2,805 shares of the exchange traded fund’s stock worth $2,067,000 after buying an additional 52 shares during the period. Valley Brook Capital Group Inc. purchased a new position in shares of Invesco QQQ during the 2nd quarter valued at about $234,000. Finally, Ascentis Wealth Management LLC lifted its position in shares of Invesco QQQ by 74,117.2% during the 2nd quarter. Ascentis Wealth Management LLC now owns 194,449 shares of the exchange traded fund’s stock valued at $143,192,000 after buying an additional 194,187 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Key Invesco QQQ News

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don’t Expect A Hike

Invesco QQQ Trading Up 0.4%

Shares of NASDAQ:QQQ opened at $713.44 on Friday. The stock has a 50 day moving average of $713.76 and a 200 day moving average of $668.02. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

The company also recently declared 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. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend 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.