Lotus Asset Management LLC Makes New Investment in Invesco QQQ $QQQ

Lotus Asset Management LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,363 shares of the exchange traded fund’s stock, valued at approximately $1,004,000. Invesco QQQ makes up 0.9% of Lotus Asset Management LLC’s holdings, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Corient Private Wealth LLC grew its holdings in shares of Invesco QQQ by 3,567.7% in the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after purchasing an additional 20,852,432 shares during the period. Bank of America Corp DE increased its position in Invesco QQQ by 381.0% during the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after purchasing an additional 26,505,055 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ by 11.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock worth $2,179,321,000 after purchasing an additional 375,581 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Invesco QQQ by 21.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock worth $1,858,288,000 after purchasing an additional 534,000 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. boosted its holdings in Invesco QQQ by 0.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund’s stock valued at $1,316,358,000 after purchasing an additional 4,751 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $716.31 on Thursday. The firm has a 50 day simple moving average of $710.61 and a 200-day simple moving average of $678.22. Invesco QQQ has a 1-year low of $555.60 and a 1-year high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were given a $0.8135 dividend. The ex-dividend date was Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a yield of 0.5%.

More Invesco QQQ News

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

• Positive Sentiment: Some market commentary remains supportive of growth stocks, arguing that the Federal Reserve is unlikely to raise interest rates and that investors could continue to “ride the bull.” Lower or stable rates generally benefit QQQ’s rate-sensitive technology holdings. There Will Be No Fed Rate Hikes
• Positive Sentiment: Invesco QQQ is sponsoring the Atlanta Food & Wine Festival for a 16th year. The event provides brand visibility for Invesco, although it is unlikely to materially affect QQQ’s net asset value or near-term trading. Atlanta Food & Wine Festival Presented by Invesco QQQ
• Neutral Sentiment: Articles comparing QQQ with leveraged ETF TQQQ explain that daily-reset mechanics, volatility drag and financing costs prevent TQQQ from delivering three times QQQ’s longer-term return. The analysis does not change QQQ’s holdings but highlights the fund’s role as the unleveraged Nasdaq-100 benchmark. TQQQ Gained 59.18% While QQQ Gained 24.99%
• Negative Sentiment: Broad-market ETFs declined after midday amid higher oil prices and concerns about inflation, employment and elevated valuations. These pressures are unfavorable for QQQ’s concentrated growth-stock exposure. Exchange-Traded Funds, US Equities Fall After Midday
• Negative Sentiment: Investors are again highlighting that QQQ’s expense ratio is higher than that of comparable Invesco QQQM, which tracks the same Nasdaq-100 Index. That fee gap may encourage long-term investors to favor QQQM, although QQQ retains advantages for liquidity and trading activity. QQQ vs QQQM

Invesco QQQ Company 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.