HT Partners LLC has significantly reduced its investment in Invesco QQQ, a major exchange-traded fund, by 61.8% during the third quarter of 2023. This move leaves the firm with 1,374 shares of the fund after selling 2,219 shares. As of the end of September, Invesco QQQ represented approximately 0.3% of HT Partners LLC’s overall portfolio, positioning it as the firm’s 29th largest investment.
The current value of HT Partners LLC’s holdings in Invesco QQQ stands at around $825,000. This adjustment reflects broader trends in institutional investment, as several other hedge funds and institutional investors have also modified their positions in this noteworthy fund.
Other Institutional Movements
Orgel Wealth Management LLC has increased its stake in Invesco QQQ by 4.7% during the same period, bringing its total ownership to 382 shares, valued at approximately $229,000 after acquiring an additional 17 shares. Similarly, Enclave Advisors LLC grew its holdings by 0.9%, now owning 1,831 shares worth about $1,099,000 after a similar addition of 17 shares.
IFS Advisors LLC also reported a 4.1% increase in its position, owning 431 shares valued at $259,000. Mezzasalma Advisors LLC raised its stake by 0.5% and now holds 3,312 shares, with a valuation of $1,988,000. Lastly, MassMutual Private Wealth & Trust FSB increased its interest by 1.2%, owning 1,421 shares valued at around $853,000. Collectively, institutional investors now hold about 44.58% of Invesco QQQ’s stock.
Recent Developments and Dividend Announcement
Invesco QQQ has also made headlines recently with the announcement of a quarterly dividend, which was paid on December 31, 2023. Shareholders recorded on December 22 received a dividend of $0.7941 per share, marking an annualized figure of $3.18 and a dividend yield of 0.5%. This increase represents a rise from the previous quarterly dividend of $0.69, indicating a positive growth trajectory for the fund.
Invesco QQQ, part of the PowerShares QQQ Trust, Series 1, serves as an essential investment vehicle for those looking to mirror the performance of the Nasdaq-100 Index, which includes some of the largest non-financial companies on the Nasdaq stock market. The Trust allows investors to purchase units that represent interests in its portfolio, which closely aligns with the component securities of the Nasdaq-100 Index.
With ongoing changes in stakeholder positions and financial developments, Invesco QQQ remains a focal point for both institutional investors and market observers alike.
