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QQQ ETF Update, 6/5/2024  
Market News

QQQ ETF Update, 6/5/2024  

Story Highlights

Here’s a quick look at Invesco QQQ Trust ETF’s performance.

How is QQQ stock faring? The Invesco QQQ ETF is up 0.68% in the past 5 days and has risen about 28% over the past year.  

According to TipRanks’ unique ETF analyst consensus, determined based on a weighted average of its holdings’ analyst ratings, QQQ is a Moderate Buy. The Street’s average price target of $509.73 implies an upside of about 12%. 

Currently, QQQ’s five holdings with the highest upside potential are PDD Holdings (PDD), Warner Bros. Discovery (WBD), MongoDB (MDB), Atlassian (TEAM), and Illumina (ILMN).

Meanwhile, its five holdings with the greatest downside potential are Vertex Pharmaceuticals (VRTX), Qualcomm (QCOM), Moderna (MRNA), Texas Instruments (TXN), and Tesla (TSLA).   

Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the market. 

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Disclosure  

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