Cloud Capital Management LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 5,198 shares of the exchange traded fund’s stock, valued at approximately $2,437,000. Invesco QQQ accounts for about 1.7% of Cloud Capital Management LLC’s holdings, making the stock its 17th largest position.
Several other large investors also recently modified their holdings of the stock. Wilkins Miller Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc bought a new stake in shares of Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at about $4,623,000. Gemsstock Ltd. grew its stake in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC increased its position in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock worth $75,071,000 after acquiring an additional 2,600 shares during the period. 44.58% of the stock is owned by institutional investors.
Invesco QQQ Trading Up 0.9%
Shares of Invesco QQQ stock opened at $555.88 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $557.20. The company has a 50-day simple moving average of $519.53 and a two-hundred day simple moving average of $504.67.
Invesco QQQ Cuts Dividend
About Invesco QQQ
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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