Kovack Advisors Inc. trimmed its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,241 shares of the exchange traded fund’s stock after selling 1,292 shares during the quarter. Invesco QQQ Trust accounts for approximately 1.0% of Kovack Advisors Inc.’s investment portfolio, making the stock its 12th biggest position. Kovack Advisors Inc.’s holdings in Invesco QQQ Trust were worth $6,664,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in QQQ. Morgan Stanley increased its holdings in shares of Invesco QQQ Trust by 32.4% in the 3rd quarter. Morgan Stanley now owns 16,506,838 shares of the exchange traded fund’s stock valued at $4,586,261,000 after acquiring an additional 4,035,330 shares during the period. Envestnet Asset Management Inc. grew its holdings in Invesco QQQ Trust by 76.1% in the third quarter. Envestnet Asset Management Inc. now owns 5,219,150 shares of the exchange traded fund’s stock valued at $1,450,089,000 after purchasing an additional 2,255,392 shares during the last quarter. TD Asset Management Inc. lifted its stake in Invesco QQQ Trust by 1.4% in the 3rd quarter. TD Asset Management Inc. now owns 3,515,553 shares of the exchange traded fund’s stock valued at $976,761,000 after buying an additional 49,555 shares in the last quarter. Varma Mutual Pension Insurance Co lifted its stake in shares of Invesco QQQ Trust by 226.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 2,730,972 shares of the exchange traded fund’s stock valued at $758,773,000 after buying an additional 1,893,293 shares during the period. Finally, FMR LLC lifted its holdings in shares of Invesco QQQ Trust by 1,363.3% during the 2nd quarter. FMR LLC now owns 2,557,669 shares of the exchange traded fund’s stock worth $633,278,000 after acquiring an additional 2,382,876 shares during the period. Hedge funds and other institutional investors own 42.99% of the company’s stock.
NASDAQ:QQQ traded up $0.19 during mid-day trading on Thursday, hitting $316.23. The company had a trading volume of 670,484 shares, compared to its average volume of 34,573,328. Invesco QQQ Trust has a 1 year low of $164.93 and a 1 year high of $319.39. The business has a fifty day simple moving average of $311.56 and a 200-day simple moving average of $295.30.
Invesco QQQ Trust Company 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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