Base Wealth Management LLC Sells 3,460 Shares of Invesco QQQ $QQQ

Base Wealth Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 22.7% during the first quarter, HoldingsChannel.com reports. The firm owned 11,801 shares of the exchange traded fund’s stock after selling 3,460 shares during the period. Invesco QQQ makes up approximately 3.8% of Base Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. Base Wealth Management LLC’s holdings in Invesco QQQ were worth $6,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. University of Texas Texas AM Investment Management Co. acquired a new position in Invesco QQQ in the 4th quarter valued at approximately $25,000. Shcp LLC acquired a new position in shares of Invesco QQQ during the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 2,150.0% during the fourth 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 during the period. Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ in the fourth quarter worth $29,000. Finally, Islay Capital Management LLC bought a new stake in shares of Invesco QQQ in the fourth quarter worth $32,000. 44.58% of the stock is currently owned by institutional investors.

Key Invesco QQQ News

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

• Positive Sentiment: QQQ continues to be viewed as a relatively resilient way to own the AI and tech trade, with commentary noting it absorbed recent tech turbulence better than more concentrated names like CoreWeave. CRWV Vs. QQQ: Buy CoreWeave for Explosive AI Alpha or Hold QQQ for Insulated Macro Safety?
• Positive Sentiment: SpaceX’s addition to the Nasdaq-100 is seen as a modest tailwind for index funds like QQQ, since passive funds tracking the Nasdaq-100 have to own the new constituent. SpaceX Is Joining the Nasdaq-100 This Week. What This Means for Invesco QQQ Investors.
• Neutral Sentiment: Several articles highlight how dominant the Nasdaq-100 has become in growth ETF flows, which supports QQQ’s importance but also reinforces that investors are crowded into the same mega-cap names. The Nasdaq 100 Now Controls a Quarter of Every Growth ETF Dollar
• Neutral Sentiment: BlackRock’s planned cheaper Nasdaq-100 ETF may increase competition for QQQ, but it does not change the fund’s holdings or near-term market exposure. QQQ, Meet IQQ. BlackRock Is Launching a Cheaper Nasdaq-100 ETF.
• Negative Sentiment: Broader market weakness tied to U.S.-Iran tensions, higher oil prices, and rising Treasury yields weighed on tech and chip stocks, which can pressure QQQ because of its heavy concentration in those sectors. Dow Ends Lower To Record Worst Day In Nearly A Month As US-Iran Jitters Push Oil Prices
• Negative Sentiment: Market commentary is increasingly focused on AI-trade fatigue and concentration risk in the Nasdaq, raising concerns that the rally may be vulnerable if the biggest growth names weaken. Broadcom Stock: The 1 Number That Could Tell You a Market Turn Is Coming

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $711.44 on Thursday. Invesco QQQ has a twelve month low of $551.56 and a twelve month high of $748.65. The stock has a fifty day simple moving average of $715.82 and a 200 day simple moving average of $648.78.

Invesco QQQ Increases Dividend

The business also recently declared 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 of this dividend 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.