SVB Wealth LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 15.2% in the first quarter, HoldingsChannel reports. The firm owned 18,559 shares of the exchange traded fund’s stock after buying an additional 2,453 shares during the quarter. SVB Wealth LLC’s holdings in Invesco QQQ were worth $8,240,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in QQQ. Deane Retirement Strategies Inc. purchased a new position in Invesco QQQ in the first quarter worth approximately $29,000. Legacy Bridge LLC boosted its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth $35,000. Red Tortoise LLC boosted its stake in Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Finally, Robinson Capital Management LLC purchased a new position in Invesco QQQ during the 4th quarter worth $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.
Invesco QQQ Stock Performance
Shares of QQQ traded up $0.93 during trading hours on Monday, reaching $463.90. The company had a trading volume of 28,131,509 shares, compared to its average volume of 40,330,348. The firm has a 50 day simple moving average of $474.69 and a 200-day simple moving average of $447.96. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.
Invesco QQQ Increases Dividend
Invesco QQQ Company 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.
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