Tepp RIA LLC Decreases Stake in Invesco QQQ $QQQ

Tepp RIA LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 18.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,669 shares of the exchange traded fund’s stock after selling 5,468 shares during the quarter. Invesco QQQ comprises approximately 11.8% of Tepp RIA LLC’s portfolio, making the stock its 3rd largest holding. Tepp RIA LLC’s holdings in Invesco QQQ were worth $17,430,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QQQ. Brighton Jones LLC grew its holdings in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Jupiter Wealth Management LLC bought a new position in shares of Invesco QQQ in the second quarter worth about $290,000. Wealth Group Ltd. lifted its position in shares of Invesco QQQ by 283.7% during the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock worth $13,587,000 after purchasing an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Invesco QQQ by 1,057.3% during the second quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock worth $18,239,000 after purchasing an additional 30,206 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $713.44 on Monday. The company’s 50 day simple moving average is $713.76 and its 200-day simple moving average is $668.31. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65.

Invesco QQQ Increases Dividend

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

Key Invesco QQQ News

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

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.