Advocacy Wealth Management Services LLC decreased its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 20.9% during the first quarter, Holdings Channel reports. The firm owned 284 shares of the exchange traded fund’s stock after selling 75 shares during the quarter. Advocacy Wealth Management Services LLC’s holdings in Invesco QQQ Trust were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Inspire Advisors LLC bought a new position in Invesco QQQ Trust in the fourth quarter worth approximately $26,000. Costello Asset Management INC raised its position in Invesco QQQ Trust by 119.0% in the fourth quarter. Costello Asset Management INC now owns 92 shares of the exchange traded fund’s stock worth $29,000 after acquiring an additional 50 shares during the period. Wells Financial Advisors INC bought a new position in Invesco QQQ Trust in the fourth quarter worth approximately $29,000. Clark Financial Advisors bought a new position in Invesco QQQ Trust in the fourth quarter worth approximately $31,000. Finally, Annapolis Financial Services LLC bought a new position in Invesco QQQ Trust in the fourth quarter worth approximately $31,000. Institutional investors own 47.01% of the company’s stock.
QQQ traded up $2.72 during trading on Thursday, hitting $334.34. The company’s stock had a trading volume of 823,442 shares, compared to its average volume of 49,784,813. Invesco QQQ Trust has a one year low of $196.17 and a one year high of $338.19. The business’s 50 day simple moving average is $318.32 and its 200-day simple moving average is $311.09.
About Invesco QQQ Trust
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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