Invesco QQQ $QQQ Shares Purchased by Merrithew & Thorsten Inc

Merrithew & Thorsten Inc boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,956 shares of the exchange traded fund’s stock after acquiring an additional 814 shares during the period. Invesco QQQ accounts for about 19.7% of Merrithew & Thorsten Inc’s portfolio, making the stock its 2nd largest holding. Merrithew & Thorsten Inc’s holdings in Invesco QQQ were worth $21,421,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ODonnell Financial Services LLC increased its position in shares of Invesco QQQ by 0.9% during the third quarter. ODonnell Financial Services LLC now owns 1,810 shares of the exchange traded fund’s stock valued at $1,339,000 after acquiring an additional 17 shares during the last quarter. Everest Financial Group LLC raised its stake in shares of Invesco QQQ by 25.3% in the 3rd quarter. Everest Financial Group LLC now owns 1,758 shares of the exchange traded fund’s stock valued at $1,301,000 after acquiring an additional 355 shares during the period. Werba Rubin Papier Wealth Management raised its stake in shares of Invesco QQQ by 2.1% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 2,089 shares of the exchange traded fund’s stock valued at $1,545,000 after acquiring an additional 43 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its holdings in shares of Invesco QQQ by 64.2% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 261 shares of the exchange traded fund’s stock worth $193,000 after acquiring an additional 102 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Invesco QQQ by 9.6% in the 3rd quarter. Fifth Third Bancorp now owns 164,498 shares of the exchange traded fund’s stock worth $121,690,000 after acquiring an additional 14,377 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.3%

NASDAQ:QQQ opened at $688.17 on Friday. The company has a 50 day moving average price of $718.62 and a 200 day moving average price of $681.57. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $762.86.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, September 21st were paid a dividend of $0.7514 per share. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%. This is a negative change from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st.

Key Headlines Impacting Invesco QQQ

These are some of the QQQ headlines that stood out recently:

• Neutral Sentiment: QQQ was described as relatively resilient amid Nvidia-related selling. Its diversified Nasdaq-100 exposure can cushion the impact of weakness in an individual holding, though Nvidia remains influential. Invesco QQQ Trust ETF Resists Pressure as Nvidia’s CEO Resigns
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure triggered a selloff in Nvidia shares, creating a headwind for QQQ because of the fund’s exposure to the chipmaker. Jensen Huang Is Out: Here’s How Much Nvidia’s Selloff Cost a $10,000 QQQ Position
• Negative Sentiment: Hot inflation and the possibility of tighter Federal Reserve policy could pressure growth-stock valuations, a risk for QQQ’s technology-heavy portfolio. CPI Pushes Rate Hike Odds to About 100%

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.