Kovack Advisors Inc. Has $42.63 Million Stock Holdings in Invesco QQQ $QQQ

Kovack Advisors Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 17.2% during the second quarter, Holdings Channel reports. The fund owned 58,427 shares of the exchange traded fund’s stock after buying an additional 8,567 shares during the quarter. Invesco QQQ comprises 2.0% of Kovack Advisors Inc.’s investment portfolio, making the stock its 9th largest position. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $42,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QQQ. University of Texas Texas AM Investment Management Co. bought a new stake in Invesco QQQ in the fourth quarter valued at $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Finally, Rachor Investment Advisory Services LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at about $29,000. 44.58% of the stock is owned by institutional investors.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don’t Expect A Hike

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $713.44 on Monday. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65. The business has a 50-day simple moving average of $713.76 and a 200 day simple moving average of $668.31.

Invesco QQQ Increases Dividend

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

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.