Retirement Planning Group LLC NY has recently acquired a notable stake in Invesco QQQ (NASDAQ:QQQ), as reported in its latest filing with the SEC. During the fourth quarter, the institutional investor purchased 18,952 shares of the ETF, amounting to approximately $9.69 million. This investment now represents about 10.7% of Retirement Planning Group’s portfolio, making Invesco QQQ their largest position.
In addition to Retirement Planning Group’s investment, several other institutional investors have also adjusted their holdings in QQQ. For instance, PayPay Securities Corp significantly increased its stake by 276.9%, now owning 49 shares valued at $25,000 after adding 36 shares in the last quarter. Other institutions, including Bridge Generations Wealth Management LLC, Marshall & Sterling Wealth Advisors Inc., and Roxbury Financial LLC, have also initiated new positions in Invesco QQQ during the same quarter, bringing the total institutional ownership to 44.58%.
As for the stock’s performance, shares of Invesco QQQ fell by $4.76 to $509.24 in recent trading, with substantial trading volume reported at over 58 million shares, exceeding the average volume of approximately 37.36 million shares. The ETF has seen a one-year low of $402.39 and a high of $540.81, with a current market capitalization of $319.12 billion. The stock has a price-to-earnings ratio of 30.62 and a beta of 1.11, reflecting its market volatility.
Additionally, Invesco QQQ has announced a dividend payment of $0.7157, which was distributed to shareholders on April 30th, following an ex-dividend date of March 24th.
As the investment landscape continues to evolve, it reflects a growing confidence among institutional investors in Invesco QQQ’s performance and the broader market outlook. This trend of increased institutional investment could bode well for the ETF moving forward, suggesting potential growth and stability in the tech-heavy index that it tracks.