Industrial Alliance Investment Management Inc. Grows Holdings in Invesco QQQ $QQQ

Industrial Alliance Investment Management Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 201,271 shares of the exchange traded fund’s stock after purchasing an additional 8,598 shares during the period. Invesco QQQ comprises approximately 69.4% of Industrial Alliance Investment Management Inc.’s portfolio, making the stock its largest holding. Industrial Alliance Investment Management Inc.’s holdings in Invesco QQQ were worth $116,170,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Well Done LLC increased its holdings in shares of Invesco QQQ by 0.5% in the fourth quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund’s stock worth $2,113,000 after buying an additional 16 shares during the period. Tenon Financial LLC lifted its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund’s stock valued at $494,000 after acquiring an additional 17 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Invesco QQQ by 1.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,017 shares of the exchange traded fund’s stock valued at $625,000 after acquiring an additional 17 shares during the period. Cascade Investment Group Inc. boosted its holdings in Invesco QQQ by 4.6% during the 4th quarter. Cascade Investment Group Inc. now owns 388 shares of the exchange traded fund’s stock valued at $238,000 after acquiring an additional 17 shares during the period. Finally, Keeler & Nadler Financial Planning & Wealth Management grew its position in Invesco QQQ by 3.0% during the 4th quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 576 shares of the exchange traded fund’s stock worth $354,000 after acquiring an additional 17 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.7%

Shares of Invesco QQQ stock opened at $736.40 on Wednesday. Invesco QQQ has a one year low of $544.66 and a one year high of $748.65. The business’s 50 day simple moving average is $708.42 and its two-hundred day simple moving average is $644.38.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be issued a $0.8135 dividend. 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 0.4%. The ex-dividend date is Monday, June 22nd.

More Invesco QQQ News

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

• Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
• Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
• Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge

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.