Western Wealth Management LLC increased its position in Invesco QQQ Trust (NASDAQ:QQQ) by 5.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 84,639 shares of the exchange traded fund’s stock after buying an additional 4,155 shares during the quarter. Invesco QQQ Trust makes up about 2.1% of Western Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. Western Wealth Management LLC’s holdings in Invesco QQQ Trust were worth $15,765,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Macroview Investment Management LLC boosted its holdings in Invesco QQQ Trust by 112.7% in the 2nd quarter. Macroview Investment Management LLC now owns 135 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 1,200 shares during the period. Farmers National Bank bought a new position in Invesco QQQ Trust in the 1st quarter worth $28,000. Larson Financial Group LLC bought a new position in Invesco QQQ Trust in the 2nd quarter worth $29,000. Crosspoint Capital Strategies LLC bought a new position in Invesco QQQ Trust in the 1st quarter worth $43,000. Finally, Lenox Wealth Management Inc. boosted its holdings in Invesco QQQ Trust by 33.8% in the 2nd quarter. Lenox Wealth Management Inc. now owns 475 shares of the exchange traded fund’s stock worth $88,000 after buying an additional 120 shares during the period. 41.04% of the stock is owned by institutional investors.
Invesco QQQ Trust stock traded down $5.25 during mid-day trading on Friday, hitting $182.77. The stock had a trading volume of 36,822,106 shares, compared to its average volume of 36,637,360. The firm’s 50 day moving average is $189.85 and its 200 day moving average is $182.80. Invesco QQQ Trust has a one year low of $143.46 and a one year high of $195.55.
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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