Elevation Wealth Partners LLC Raises Stock Position in Invesco QQQ $QQQ

Elevation Wealth Partners LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 15.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,358 shares of the exchange traded fund’s stock after purchasing an additional 737 shares during the quarter. Invesco QQQ comprises about 1.1% of Elevation Wealth Partners LLC’s holdings, making the stock its 23rd biggest position. Elevation Wealth Partners LLC’s holdings in Invesco QQQ were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QQQ. High Point Wealth Management LLC grew its stake in shares of Invesco QQQ by 68.0% in the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock valued at $31,000 after buying an additional 17 shares during the period. Parvin Asset Management LLC acquired a new position in Invesco QQQ during the 1st quarter worth approximately $28,000. Islay Capital Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $32,000. Financial Management Professionals Inc. boosted its holdings in Invesco QQQ by 83.3% in the second quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund’s stock worth $41,000 after acquiring an additional 25 shares in the last quarter. Finally, Bullseye Investment Management LLC acquired a new stake in Invesco QQQ in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

More Invesco QQQ News

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

• Positive Sentiment: QQQ’s long-term momentum remains strong: the ETF is up more than 23% year to date and has significantly outperformed ARKK over the past five years. The gains reflect continued investor demand for profitable, large-cap technology and growth companies. Invesco QQQ Trust ETF Is Up 23 Percent Year to Date
• Positive Sentiment: A recent rally in technology stocks helped support QQQ, reinforcing the ETF’s exposure to the market’s strongest-performing sector. Optimism about technology earnings and AI-related growth continues to underpin demand. Markets Take Off As Tech Stocks Rally
• Neutral Sentiment: Economic commentary remains mixed. A weak September employment report could increase expectations for easier Federal Reserve policy, while other analysis suggests a U.S. recession is not imminent. The resulting uncertainty may keep QQQ volatile. September Employment Report
• Negative Sentiment: Broad-market ETFs and equity futures moved lower as traders awaited the Fed minutes. Any indication that rates may remain higher for longer could pressure QQQ’s high-growth holdings by reducing the value investors place on future earnings. ETFs and Equity Futures Down Before Fed Minutes
• Negative Sentiment: U.S. equities extended their decline after midday, signaling broad risk reduction rather than a QQQ-specific development. Exchange-Traded Funds Lower as U.S. Equities Decline
• Negative Sentiment: Commentary questioning whether an AI bubble is forming, along with warnings that Nasdaq valuations and market concentration have become stretched, creates a near-term risk of profit-taking in QQQ’s technology-heavy portfolio. Wall Street Breakfast Podcast: Pop Goes the AI Bubble

Invesco QQQ Trading Down 0.3%

Shares of NASDAQ QQQ traded down $1.93 during midday trading on Wednesday, hitting $757.73. 25,325,128 shares of the stock traded hands, compared to its average volume of 48,244,180. Invesco QQQ has a one year low of $555.60 and a one year high of $762.86. The business has a 50 day moving average price of $722.59 and a two-hundred day moving average price of $696.46.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.7514 per share. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date is Monday, September 21st. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%.

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.