Pincus Capital Management LP Buys Shares of 15,896 Invesco QQQ $QQQ

Pincus Capital Management LP purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, HoldingsChannel reports. The firm purchased 15,896 shares of the exchange traded fund’s stock, valued at approximately $9,765,000. Invesco QQQ accounts for 6.5% of Pincus Capital Management LP’s portfolio, making the stock its 3rd biggest position.

A number of other hedge funds have also modified their holdings of QQQ. SG Americas Securities LLC grew its holdings in shares of Invesco QQQ by 120.2% during the 4th quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock worth $131,292,000 after purchasing an additional 1,270,102 shares during the period. Analyst IMS Investment Management Services Ltd. grew its holdings in shares of Invesco QQQ by 68.6% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund’s stock worth $1,075,091,000 after purchasing an additional 712,026 shares during the period. Axxcess Wealth Management LLC grew its holdings in shares of Invesco QQQ by 1,216.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 561,706 shares of the exchange traded fund’s stock worth $345,070,000 after purchasing an additional 519,051 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco QQQ by 11.8% during the 4th 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. Finally, NorthRock Partners LLC grew its holdings in shares of Invesco QQQ by 1,355.6% during the 3rd quarter. NorthRock Partners LLC now owns 304,852 shares of the exchange traded fund’s stock worth $183,024,000 after purchasing an additional 283,909 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6%

NASDAQ QQQ opened at $742.74 on Tuesday. Invesco QQQ has a twelve month low of $515.97 and a twelve month high of $745.65. The stock has a fifty day simple moving average of $655.03 and a 200-day simple moving average of $627.83.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.7328 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: Futures and broader market indicators started the day on a strong footing, with tech leadership helping sentiment and QQQ showing only cautious retail positioning despite the upbeat opening tone. Nasdaq, S&P 500 Futures Open June On Strong Footing: Why NVDA, DELL, HPE, TSM, TSLA, SPCE, RVMD Are In Focus
• Positive Sentiment: Risk appetite remains supported by enthusiasm for semiconductor and AI-related stocks, which can lift the Nasdaq-100 and the Invesco QQQ (QQQ) ETF because of its heavy exposure to mega-cap tech. The Semiconductor Play Nobody Owns Just Lapped Wall Street’s Biggest Names
• Neutral Sentiment: U.S. equity ETFs and broad market gauges were mixed after midday, suggesting no clear market-wide catalyst driving QQQ in either direction. Exchange-Traded Funds, US Equities Mixed After Midday
• Neutral Sentiment: Retail sentiment on QQQ was described as cautious and neutral, indicating traders are not aggressively positioning for a breakout despite the recent strength. Profitless Tech Surges 57% As Wall Street Signals Caution
• Negative Sentiment: Geopolitical tension in the Middle East and higher oil prices are pressuring premarket sentiment, which can weigh on growth stocks and the Invesco QQQ (QQQ) by reviving inflation and rate concerns. Pre-Markets Turn South on News from Middle East
• Negative Sentiment: Wall Street strategists are warning that rising yields and speculative behavior could hurt high-growth, money-losing tech names, a potential headwind for QQQ’s tech-heavy portfolio. Profitless Tech Surges 57% As Wall Street Signals Caution

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.