Destination Wealth Management Has $3.29 Million Stake in Invesco QQQ Trust (QQQ)

Destination Wealth Management grew its position in Invesco QQQ Trust (NASDAQ:QQQ) by 7.8% during the fourth quarter, HoldingsChannel reports. The firm owned 21,306 shares of the exchange traded fund’s stock after acquiring an additional 1,539 shares during the period. Destination Wealth Management’s holdings in Invesco QQQ Trust were worth $3,287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Intersect Capital LLC grew its position in shares of Invesco QQQ Trust by 14.2% in the 4th quarter. Intersect Capital LLC now owns 6,889 shares of the exchange traded fund’s stock valued at $1,063,000 after buying an additional 859 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Invesco QQQ Trust by 6.4% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,439 shares of the exchange traded fund’s stock valued at $685,000 after buying an additional 266 shares during the last quarter. Segantii Capital Management Ltd purchased a new position in shares of Invesco QQQ Trust in the 4th quarter valued at $179,393,000. Whitnell & Co. grew its position in shares of Invesco QQQ Trust by 306.1% in the 4th quarter. Whitnell & Co. now owns 796 shares of the exchange traded fund’s stock valued at $123,000 after buying an additional 600 shares during the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of Invesco QQQ Trust by 30.6% in the 4th quarter. Westside Investment Management Inc. now owns 30,456 shares of the exchange traded fund’s stock valued at $4,708,000 after buying an additional 7,132 shares during the last quarter. Institutional investors and hedge funds own 42.14% of the company’s stock.

NASDAQ QQQ opened at $170.89 on Wednesday. Invesco QQQ Trust has a 12 month low of $143.46 and a 12 month high of $187.53.

Separately, Bank of America downgraded shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research report on Monday, November 5th.

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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.

Read More: What is the balance sheet?

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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