Conversely, Waverly Advisors LLC expanded its exposure by 2.7%, adding 2,907 shares to bring its total investment to 111,706 shares valued at $64.474 million.
Invesco QQQ traded at $684.23 on July 24, down 1.1% for the session after hitting a low of $682.48 on volume of 41,875,377 shares.
The fund has gained approximately 11.63% year-to-date and 21.64% over the past 52 weeks, supported by a 57.8% allocation to the Information Technology sector, led by top holdings Nvidia, Apple, and Microsoft.
The underlying portfolio also held 39.7 million shares in SpaceX worth $4.57 billion as of July 22, representing a 0.98% weight.
Upcoming lockup expirations around August 4 and August 20 could mechanically increase SpaceX's index weight regardless of price changes.
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Additionally, Invesco QQQ recently raised its quarterly dividend to $0.8135 per share from $0.73, paid on July 10 to stockholders of record as of June 22, bringing the annualized payout to $3.25 per share with a yield of 0.5%.
