Peterson Wealth Management purchased a new stake in Invesco QQQ Trust (NASDAQ:QQQ) in the fourth quarter, Holdings Channel.com reports. The fund purchased 42,300 shares of the exchange traded fund’s stock, valued at approximately $9,309,000. Invesco QQQ Trust makes up about 8.5% of Peterson Wealth Management’s holdings, making the stock its biggest holding.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. AdvisorNet Financial Inc grew its stake in shares of Invesco QQQ Trust by 12.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 8,372 shares of the exchange traded fund’s stock worth $1,581,000 after acquiring an additional 911 shares during the period. Cavalier Investments LLC bought a new position in Invesco QQQ Trust during the 3rd quarter worth approximately $3,226,000. Legend Financial Advisors Inc. grew its position in Invesco QQQ Trust by 0.6% during the 3rd quarter. Legend Financial Advisors Inc. now owns 70,479 shares of the exchange traded fund’s stock worth $13,306,000 after acquiring an additional 411 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Invesco QQQ Trust in the 3rd quarter worth approximately $28,000. Finally, Global Retirement Partners LLC boosted its position in shares of Invesco QQQ Trust by 1.2% during the third quarter. Global Retirement Partners LLC now owns 46,825 shares of the exchange traded fund’s stock valued at $8,841,000 after purchasing an additional 568 shares in the last quarter. 39.30% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:QQQ opened at $222.28 on Friday. The stock has a fifty day simple moving average of $211.07 and a two-hundred day simple moving average of $196.74. Invesco QQQ Trust has a 12-month low of $160.32 and a 12-month high of $222.32.
Invesco QQQ Trust 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.
Featured Story: Profit Margin
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).
Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.