Kaydan Wealth Management Inc. Takes $4.90 Million Position in Invesco QQQ $QQQ

Kaydan Wealth Management Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,657 shares of the exchange traded fund’s stock, valued at approximately $4,902,000. Invesco QQQ accounts for about 1.5% of Kaydan Wealth Management Inc.’s portfolio, making the stock its 15th largest holding.

Several other hedge funds have also recently bought and sold shares of QQQ. CAP Partners LLC grew its holdings in Invesco QQQ by 3.5% in the first quarter. CAP Partners LLC now owns 444 shares of the exchange traded fund’s stock valued at $256,000 after purchasing an additional 15 shares during the last quarter. Durante & Waters LLC raised its stake in shares of Invesco QQQ by 1.1% during the 1st quarter. Durante & Waters LLC now owns 1,425 shares of the exchange traded fund’s stock worth $822,000 after buying an additional 15 shares during the last quarter. Roxbury Financial LLC boosted its position in shares of Invesco QQQ by 19.7% in the 2nd quarter. Roxbury Financial LLC now owns 91 shares of the exchange traded fund’s stock worth $67,000 after buying an additional 15 shares in the last quarter. GoalVest Advisory LLC boosted its position in shares of Invesco QQQ by 0.5% in the 2nd quarter. GoalVest Advisory LLC now owns 3,016 shares of the exchange traded fund’s stock worth $2,221,000 after buying an additional 15 shares in the last quarter. Finally, Forty three Eighteen Advisors LLC grew its stake in Invesco QQQ by 0.6% in the 1st quarter. Forty three Eighteen Advisors LLC now owns 2,694 shares of the exchange traded fund’s stock valued at $1,555,000 after acquiring an additional 16 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $718.96 on Friday. The company’s 50-day moving average price is $711.26 and its 200 day moving average price is $675.29. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $748.65.

Invesco QQQ Increases Dividend

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

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: QQQ benefited from relative strength in the Nasdaq-100, while investor sentiment toward QQQ turned bullish ahead of the latest labor-market data. QQQ ETF edges higher as Nasdaq-100 outperforms
• Positive Sentiment: The August jobs report reportedly exceeded expectations, easing immediate concerns about a weakening labor market and supporting the “soft landing” or “Goldilocks” case for equities. That backdrop can help growth-focused technology stocks held by QQQ. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday After August Jobs Report Tops Estimates
• Positive Sentiment: Analysts highlighted broad second-quarter earnings strength and a possible new capital-formation cycle, both of which could support continued demand for large-cap technology and artificial-intelligence companies represented in the Nasdaq-100. Second Quarter Earnings Show Breadth
• Neutral Sentiment: Trading was mixed across major ETFs, with some broad-market funds advancing and others declining. This suggests QQQ’s gains were driven more by Nasdaq-100 leadership than by a uniformly strong market. Exchange-Traded Funds Mixed, US Equities Lower After Midday
• Negative Sentiment: Investors are also weighing the possibility that resilient hiring and a separate report describing hot August inflation could delay rate cuts or even prompt a Federal Reserve hike. Higher interest rates generally pressure the long-duration growth stocks that dominate QQQ. Why The Fed Might Hike Rates After A Red-Hot August Inflation Report
• Negative Sentiment: Concerns that rising long-term Treasury yields could reflect inflation, fiscal pressure, or other structural risks create an additional valuation headwind for QQQ. Benign Or Malign? Reasons For The Rise In Long-Term U.S. Interest Rates
• Negative Sentiment: Profit-margin concerns surrounding the artificial-intelligence boom could weigh on several major QQQ holdings if heavy infrastructure spending fails to generate sufficient returns. The AI Boom Is Eating Its Own Margins

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.