Tech titan ETF QQQ hits record high as golden cross fuels momentum

The Invesco QQQ Trust ETF (NASDAQ:QQQ), which is the fifth-largest exchange traded fund in the world by assets under management, opened Wednesday’s session at a fresh all-time high as optimism continues to fuel Wall Street’s rally. The tech-heavy fund, which tracks the Nasdaq-100 Index (NDX), jumped alongside broader market gains amid signs that the Israel-Iran ceasefire is holding.

With $335.42B in assets under management, QQQ opened at a record $542.06 per share and extended its advance as high as $543.22 during early trading.

Further supporting upside momentum for QQQ is the fact that the ETF has also experienced what many consider the golden cross in which the shorter term 50-day moving average crossed above the longer-term 200-day moving average which signals to many technical investors that a likely upward price trend may continue.

While QQQ is made up of 100 holdings, listed below are the funds 10 largest portfolio positions which together represent 50.48% of the funds price movements.

No. 1: Microsoft (NASDAQ:MSFT), 8.90% weighting.

No. 2: Nvidia (NASDAQ:NVDA), 8.67% weighting.

No. 3: Apple (NASDAQ:AAPL), 7.42% weighting.

No. 4: Amazon (NASDAQ:AMZN), 5.45% weighting.

No. 5: Broadcom (NASDAQ:AVGO), 4.86% weighting.

No. 6: Meta Platforms (NASDAQ:META), 3.74% weighting.

No. 7: Netflix (NASDAQ:NFLX), 3.23% weighting.

No. 8: Tesla (NASDAQ:TSLA), 3.13% weighting.

No. 9: Costco Wholesale Corp (NASDAQ:COST), 2.70% weighting.

No. 10: Alphabet (NASDAQ:GOOG), 2.37% weighting.