Louisiana State Employees Retirement System Purchases Shares of 45,800 Invesco QQQ $QQQ

Louisiana State Employees Retirement System acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,800 shares of the exchange traded fund’s stock, valued at approximately $26,435,000. Invesco QQQ makes up about 0.5% of Louisiana State Employees Retirement System’s holdings, making the stock its 26th biggest position.

A number of other hedge funds also recently modified their holdings of the business. Goodman Advisory Group LLC purchased a new stake in Invesco QQQ in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Invesco QQQ in the 4th quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 43 shares during the last quarter. Shcp LLC acquired a new stake in shares of Invesco QQQ in the third quarter valued at about $27,000. Finally, Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Key Headlines 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.

Invesco QQQ Stock Down 1.4%

QQQ opened at $706.52 on Friday. The stock’s 50 day moving average price is $704.99 and its two-hundred day moving average price is $642.79. Invesco QQQ has a 12-month low of $544.54 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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.