Pineridge Advisors LLC Buys New Shares in Invesco QQQ (NASDAQ:QQQ)

Pineridge Advisors LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,274 shares of the exchange traded fund’s stock, valued at approximately $522,000.

A number of other hedge funds also recently made changes to their positions in QQQ. Deutsche Bank AG grew its holdings in Invesco QQQ by 918.2% during the 3rd quarter. Deutsche Bank AG now owns 52,224 shares of the exchange traded fund’s stock worth $18,710,000 after acquiring an additional 47,095 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Invesco QQQ in the 3rd quarter valued at about $1,950,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Invesco QQQ in the 3rd quarter valued at about $27,461,000. Envestnet Asset Management Inc. boosted its stake in shares of Invesco QQQ by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock valued at $1,623,380,000 after purchasing an additional 52,019 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its stake in shares of Invesco QQQ by 2.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 17,173 shares of the exchange traded fund’s stock valued at $6,153,000 after purchasing an additional 453 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $2.47 during mid-day trading on Friday, reaching $479.19. The stock had a trading volume of 23,372,620 shares, compared to its average volume of 28,164,470. The firm has a 50 day simple moving average of $445.24 and a two-hundred day simple moving average of $429.91. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $479.26.

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.