Modus Advisors LLC Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

Modus Advisors LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,677 shares of the exchange traded fund’s stock after selling 1,816 shares during the quarter. Invesco QQQ makes up about 2.1% of Modus Advisors LLC’s holdings, making the stock its 14th biggest holding. Modus Advisors LLC’s holdings in Invesco QQQ were worth $5,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at about $35,000. Red Tortoise LLC grew its position in Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the last quarter. Friedenthal Financial purchased a new stake in Invesco QQQ during the 4th quarter valued at about $41,000. Robinson Capital Management LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at about $40,000. Finally, Bear Mountain Capital Inc. bought a new position in Invesco QQQ during the 4th quarter valued at about $42,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ traded down $0.05 during midday trading on Tuesday, hitting $485.01. 16,165,253 shares of the company traded hands, compared to its average volume of 41,535,758. The company’s 50-day moving average is $446.13 and its 200 day moving average is $431.15. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $486.86.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.