Thrivent Financial Cuts Stake in Invesco NASDAQ 100 ETF by 95%
In a significant portfolio adjustment, Thrivent Financial for Lutherans has reduced its stake in the Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by a striking 95.2% during the second quarter of 2023. According to data from HoldingsChannel, the financial services firm now holds 12,004 shares of the ETF, a decrease of 239,848 shares compared to the previous quarter. By the end of June, these holdings were valued at approximately $2,726,000.
Several other institutional investors have also adjusted their positions in the Invesco NASDAQ 100 ETF recently. Invesco Ltd. has increased its stake by 18.8%, acquiring an additional 1,715,025 shares during the same period. Following this acquisition, Invesco Ltd. now owns a total of 10,834,831 shares, valued at about $2.46 billion.
In addition, Clal Insurance Enterprises Holdings Ltd. raised its holding in the ETF by an impressive 73.1%, bringing its total to 3,860,663 shares, valued at around $876.76 million. Soundwatch Capital LLC has also entered the market with a new position in the Invesco NASDAQ 100 ETF, valued at approximately $3.16 million. Other notable purchases include a new position worth $277.72 million by the Bank of Nova Scotia and approximately $272.52 million by Mizuho Bank Ltd..
Current Performance and Market Insights
The Invesco NASDAQ 100 ETF opened at $254.93 on Tuesday, reflecting a modest increase of 0.3%. Over the past year, the ETF has experienced fluctuations, with a 52-week low of $165.72 and a high of $262.23. Currently, the stock’s fifty-day moving average stands at $252.98, while the two-hundred day moving average is $240.72.
The ETF boasts a market capitalization of $66.77 billion, a price-to-earnings ratio of 31.95, and a beta of 1.16, indicating a moderate level of volatility compared to the broader market.
About the Invesco NASDAQ 100 ETF
The Invesco NASDAQ 100 ETF is an exchange-traded fund designed to track the performance of the NASDAQ-100 index. It is passively managed and aims to reflect a modified market-cap weighted index of 100 NASDAQ-listed stocks, excluding financials. Launched on October 13, 2020, the fund is managed by Invesco, a prominent investment management firm.
As further adjustments are made by institutional investors, the market dynamics surrounding the Invesco NASDAQ 100 ETF will continue to evolve. Investors can keep track of the latest updates and institutional holdings through resources such as HoldingsChannel.
