PFG Advisors raised its holdings in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 0.5% in the third quarter, HoldingsChannel.com reports. The firm owned 31,872 shares of the exchange traded fund’s stock after buying an additional 147 shares during the period. Invesco QQQ Trust comprises 1.6% of PFG Advisors’ holdings, making the stock its 7th largest position. PFG Advisors’ holdings in Invesco QQQ Trust were worth $5,967,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in QQQ. Lumbard & Kellner LLC bought a new position in Invesco QQQ Trust during the first quarter valued at about $5,719,000. Financial Insights Inc. grew its position in Invesco QQQ Trust by 14.0% during the first quarter. Financial Insights Inc. now owns 1,906 shares of the exchange traded fund’s stock valued at $361,000 after buying an additional 234 shares during the period. Spectrum Wealth Advisory Group LLC bought a new position in Invesco QQQ Trust during the first quarter valued at about $2,247,000. Princeton Global Asset Management LLC purchased a new stake in Invesco QQQ Trust during the first quarter valued at about $232,000. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Invesco QQQ Trust by 17.7% during the first quarter. Redhawk Wealth Advisors Inc. now owns 4,489 shares of the exchange traded fund’s stock valued at $806,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 45.92% of the company’s stock.
Shares of Invesco QQQ Trust stock traded up $2.22 on Tuesday, reaching $193.31. The stock had a trading volume of 1,148,884 shares, compared to its average volume of 31,068,122. Invesco QQQ Trust has a 1 year low of $143.46 and a 1 year high of $195.55. The business’s 50 day moving average is $189.03 and its two-hundred day moving average is $186.72.
Invesco QQQ Trust 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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