Invesco QQQ (best known by its ticker symbol, QQQ; full fund name Invesco QQQ Trust, Series 1), is an exchange-traded fund created by Invesco PowerShares.[1] QQQ tracks the performance of the Nasdaq-100.
History
editQQQ began trading in 1999.[1][2] Price of shares declined more than 80% due to the collapse of the Dot-com bubble.[3] The fund's ticker was changed to "QQQQ" in 2004, and was later changed back to "QQQ" in 2011.[4] The fund reached a record high on 4 June 2020.[5] Invesco offers several other ETFs related to Invesco QQQ.[6] QQQM, for instance, offers a lower share price than QQQ and is marketed towards retail investors, as opposed to institutional investors.[6]
In July 2023, the fund had $5.3 billion in inflows.[7] Scion Asset Management, the investment firm run by Michael Burry, established a bet against the performance of QQQ in August 2023.[8]
Assets and structure
editAssets
editAs of August 2023, the fund had $200 billion in assets under management,[1] and among its top holdings were Apple, Microsoft, and Amazon.[9]
Structure
editA portion of the fund's assets under management is charged to investors as a fee (currently 0.20% per annum), a portion of which is used to purchase advertising for the fund.[10]
References
edit- ^ a b c Greifeld, Katherine (17 August 2023). "The Legendary, Wildly Profitable QQQ Fund Makes No Money for Its Owner". Bloomberg.com. Retrieved 17 August 2023.
- ^ Norris, Floyd (18 December 2001). "THE MARKETS: Market Place; When Failure Paves the Way For Success (Published 2001)". The New York Times. Retrieved 18 August 2023.
- ^ Jack, Pitcher (14 February 2024). "What One ETF From the Dot-Com Era Can Tell Us About Tech Investing Now". The Wall Street Journal. Retrieved 20 August 2024.
- ^ Goldsborough, Robert (23 March 2011). "PowerShares Changes Ticker Symbol of Tech-Heavy QQQ ETF". Morningstar, Inc. Retrieved 20 August 2023.
- ^ Sommer, Jeff (5 June 2020). "Why the Stock Market Just Doesn't Care (Published 2020)". The New York Times. Retrieved 18 August 2023.
- ^ a b Wursthorn, Michael (13 October 2020). "Invesco to Launch Four New Funds Tied to Flagship QQQ Tech ETF". The Wall Street Journal. Retrieved 20 August 2024.
- ^ Morris, Joe (7 August 2023). "Nasdaq rebalancing prompts huge flows to Invesco ETFs". The Financial Times. Retrieved 17 August 2023.
- ^ Watts, William (14 August 2023). "'Big Short' trader Michael Burry loaded up on bearish options in second quarter, filing shows". MarketWatch. Retrieved 17 August 2023.
- ^ Wallerstein, Eric (4 August 2023). "Tech Options Bets Soar to New Heights". The Wall Street Journal. Retrieved 17 August 2023.
- ^ Burger, Dani (8 February 2017). "Where Do SPDR Fees Go? Check the Madison Square Garden Ice". Bloomberg. Retrieved 17 August 2023.
External links
edit
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