First United Bank & Trust increased its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 36,335 shares of the exchange traded fund’s stock after purchasing an additional 153 shares during the quarter. Invesco QQQ Trust makes up approximately 5.3% of First United Bank & Trust’s holdings, making the stock its largest holding. First United Bank & Trust’s holdings in Invesco QQQ Trust were worth $13,006,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Invesco QQQ Trust by 4.4% in the first quarter. FMR LLC now owns 155,853 shares of the exchange traded fund’s stock valued at $28,000,000 after purchasing an additional 6,637 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in Invesco QQQ Trust by 1.0% in the first quarter. Ironwood Wealth Management LLC. now owns 4,560 shares of the exchange traded fund’s stock valued at $1,455,000 after purchasing an additional 44 shares during the last quarter. Man Group plc purchased a new position in Invesco QQQ Trust in the first quarter valued at approximately $1,020,000. tru Independence LLC purchased a new position in Invesco QQQ Trust in the first quarter valued at approximately $264,000. Finally, Stonnington Group LLC purchased a new position in Invesco QQQ Trust in the first quarter valued at approximately $521,000. Institutional investors and hedge funds own 42.04% of the company’s stock.
NASDAQ:QQQ opened at $398.76 on Thursday. The stock’s fifty day moving average price is $378.40 and its two-hundred day moving average price is $363.38. Invesco QQQ Trust has a 1 year low of $294.59 and a 1 year high of $408.71.
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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