Independence Bank of Kentucky boosted its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 46.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,030 shares of the exchange traded fund’s stock after buying an additional 644 shares during the period. Independence Bank of Kentucky’s holdings in Invesco QQQ were worth $901,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $29,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Red Tortoise LLC lifted its stake in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Robinson Capital Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at about $40,000. Finally, Friedenthal Financial purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $41,000. 44.58% of the stock is owned by institutional investors and hedge funds.
Invesco QQQ Stock Performance
Shares of NASDAQ:QQQ traded down $2.50 during mid-day trading on Friday, hitting $479.11. 34,881,581 shares of the company traded hands, compared to its average volume of 28,583,126. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $487.20. The firm’s 50 day simple moving average is $454.85 and its 200 day simple moving average is $436.27.
Invesco QQQ Increases Dividend
Invesco QQQ 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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