Transcendent Capital Group LLC Purchases New Position in Invesco QQQ (NASDAQ:QQQ)

Transcendent Capital Group LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 9,517 shares of the exchange traded fund’s stock, valued at approximately $3,898,000. Invesco QQQ comprises approximately 2.6% of Transcendent Capital Group LLC’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pineridge Advisors LLC acquired a new position in Invesco QQQ in the fourth quarter worth $522,000. Scarborough Advisors LLC grew its holdings in Invesco QQQ by 38.1% during the 4th quarter. Scarborough Advisors LLC now owns 1,897 shares of the exchange traded fund’s stock worth $777,000 after acquiring an additional 523 shares during the last quarter. EP Wealth Advisors LLC increased its position in Invesco QQQ by 6.1% in the 4th quarter. EP Wealth Advisors LLC now owns 91,139 shares of the exchange traded fund’s stock valued at $37,323,000 after acquiring an additional 5,251 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Invesco QQQ by 10.8% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 747 shares of the exchange traded fund’s stock worth $306,000 after acquiring an additional 73 shares during the last quarter. Finally, Lazari Capital Management Inc. lifted its position in shares of Invesco QQQ by 4.1% during the fourth quarter. Lazari Capital Management Inc. now owns 1,451 shares of the exchange traded fund’s stock worth $594,000 after purchasing an additional 57 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ traded up $2.47 during mid-day trading on Friday, hitting $479.19. 23,372,620 shares of the company traded hands, compared to its average volume of 28,164,470. The business has a 50-day moving average of $445.24 and a 200 day moving average of $429.91. Invesco QQQ has a one year low of $342.35 and a one year high of $479.26.

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.