Sassicaia Capital Advisers LLC trimmed its exposure to Invesco QQQ in the first quarter, cutting its stake by 68.6% to 1,757 shares after selling 3,843 shares during the period. The exchange-traded fund accounts for about 3.0% of Sassicaia’s portfolio, making QQQ its 10th-largest position, with those holdings valued at roughly $824,000 at the time of its latest SEC filing.
Other big moves in QQQ came from a range of institutional investors:
– Goldman Sachs Group Inc. boosted its position in QQQ by 959.6% in the first quarter, rising to 24,097,975 shares valued at about $11.3 billion after purchasing 21,823,765 additional shares in the last quarter.
– Mullooly Asset Management Inc. opened a new position in QQQ during the first quarter, with a value around $2.78 billion.
– NWI Management LP increased its stake by 121.6% in the fourth quarter, now owning 648,000 shares worth about $331.3 million after increasing by 3,648,000 shares in the last quarter.
– GAMMA Investing LLC lifted its holdings in QQQ by an astonishing 55,795.2% during the first quarter, to 1,871,929 shares valued at about $8.78 billion after purchasing an additional 1,868,580 shares.
– Spear Holdings RSC Ltd added a new position in QQQ during the first quarter valued near $474.6 million.
Overall, hedge funds and other institutional investors own about 44.58% of the stock.
Market activity and recent price context
Invesco QQQ was trading down about 1.2% to around $570.40 during the session. The day’s volume ran higher than the average, with several million shares changing hands. The ETF has traded in a broad range over the past year, with a 12-month low of $402.39 and a 12-month high of $583.32. The near-term technical picture shows a 50-day moving average near $562.24 and a 200-day moving average around $517.17.
Dividend note
Invesco QQQ also recently declared a quarterly dividend, paid on July 31. Shareholders of record as of June 23 received $0.5911 per share, equating to about $2.36 on an annualized basis and a yield of roughly 0.4%. The ex-dividend date was June 23.
Context and outlook
PowerShares QQQ Trust, Series 1 seeks to track the Nasdaq-100 Index, providing exposure to a broad swath of large-cap technology and growth-oriented equities that define the index. The notable swing in holdings among major institutions—including a sizable increase from Goldman Sachs and a dramatic rise in GAMMA Investing’s stake—suggests ongoing institutional interest in maintaining broad exposure to the Nasdaq-100’s leading names. The mix of changes—from substantial new positions to meaningful reductions—also indicates active portfolio management and reallocation strategies among large investors navigating current market conditions.
Summary
– Significant changes in QQQ among major institutions, with both large new buys and substantial reductions.
– Goldman Sachs and GAMMA Investing emerge as notable buyers, while Sassicaia trims a portion of its stake.
– QQQ’s price action remains modestly negative for the session, but the broader institutional activity highlights continued demand for Nasdaq-100 exposure.
– The fund continues to yield a modest dividend, consistent with its profile as a tracking vehicle for the Nasdaq-100.
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