Avondale Wealth Management cut its holdings in Invesco QQQ Trust (NASDAQ:QQQ – Get Rating) by 14.1% in the first quarter, Holdings Channel.com reports. The fund owned 20,575 shares of the exchange traded fund’s stock after selling 3,379 shares during the quarter. Invesco QQQ Trust makes up about 8.8% of Avondale Wealth Management’s investment portfolio, making the stock its 4th largest position. Avondale Wealth Management’s holdings in Invesco QQQ Trust were worth $7,459,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Regency Capital Management Inc. DE bought a new position in shares of Invesco QQQ Trust in the 4th quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Invesco QQQ Trust during the fourth quarter valued at approximately $29,000. Alaethes Wealth LLC raised its position in shares of Invesco QQQ Trust by 100.0% in the third quarter. Alaethes Wealth LLC now owns 100 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 50 shares during the period. William Allan LLC acquired a new stake in shares of Invesco QQQ Trust in the fourth quarter worth $36,000. Finally, Aquire Wealth Advisors LLC bought a new stake in shares of Invesco QQQ Trust during the 4th quarter worth $37,000. 42.74% of the stock is owned by institutional investors.
QQQ traded up $3.96 during trading on Wednesday, hitting $285.04. The stock had a trading volume of 2,076,654 shares, compared to its average volume of 60,014,772. Invesco QQQ Trust has a 12 month low of $269.28 and a 12 month high of $408.71. The company has a 50 day simple moving average of $306.66 and a 200-day simple moving average of $343.65.
Invesco QQQ Trust Company Profile (Get Rating)
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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