Pinnacle Wealth Management Advisory Group LLC Grows Stock Position in Invesco QQQ $QQQ

Pinnacle Wealth Management Advisory Group LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,744 shares of the exchange traded fund’s stock after purchasing an additional 998 shares during the quarter. Invesco QQQ makes up about 2.6% of Pinnacle Wealth Management Advisory Group LLC’s investment portfolio, making the stock its 7th largest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Invesco QQQ were worth $37,946,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock valued at $12,008,257,000 after buying an additional 26,505,055 shares in the last quarter. Corient Private Wealth LLC lifted its position in Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after buying an additional 20,852,432 shares in the last quarter. Delta Global Management LP acquired a new position in Invesco QQQ during the 4th quarter worth about $821,084,000. Align Financial LLC bought a new stake in Invesco QQQ during the 4th quarter worth about $78,118,000. Finally, SG Americas Securities LLC grew its holdings in 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 acquiring an additional 1,270,102 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $706.52 on Friday. Invesco QQQ has a 1-year low of $544.54 and a 1-year high of $748.65. The firm has a 50-day moving average price of $704.99 and a two-hundred day moving average price of $642.79.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a dividend yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, June 22nd.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Chipmaker strength helped calm some AI-related worries, with overnight futures supported by strong Micron results and broader optimism that the AI trade still has room to run.
• Neutral Sentiment: Several market commentary pieces argue that rotation is broadening beyond mega-cap tech, which could mean less concentration risk for QQQ but also a less dominant leadership role for the ETF.
• Neutral Sentiment: Invesco QQQ is also facing fresh competition, as State Street launched a rival Nasdaq-100 ETF and BlackRock is expected to enter the category, which may pressure fee and asset-growth dynamics over time. Article Title
• Negative Sentiment: Inflation readings remained sticky, including higher core PCE and core services inflation, reinforcing fears that the Fed may stay restrictive longer than hoped and weighing on growth stocks.
• Negative Sentiment: Bearish market commentary about a possible liquidity shock and an “S&P 500 bubble burst” likely added to pressure on QQQ’s tech-heavy holdings, which tend to be sensitive to tightening financial conditions.

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.