Summit X LLC grew its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 3.7% during the first quarter, Holdings Channel.com reports. The fund owned 2,724 shares of the exchange traded fund’s stock after purchasing an additional 96 shares during the quarter. Summit X LLC’s holdings in Invesco QQQ Trust were worth $520,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Arrow Financial Corp bought a new stake in shares of Invesco QQQ Trust in the 1st quarter worth approximately $27,000. Engrave Wealth Partners LLC purchased a new stake in Invesco QQQ Trust in the fourth quarter worth $31,000. Financial Advantage Inc. bought a new stake in shares of Invesco QQQ Trust in the first quarter valued at $31,000. Firestone Capital Management purchased a new position in shares of Invesco QQQ Trust during the 4th quarter valued at $43,000. Finally, OmniStar Financial Group Inc. purchased a new position in shares of Invesco QQQ Trust during the 1st quarter valued at $39,000. 43.35% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine raised shares of Invesco QQQ Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd.
About Invesco QQQ Trust
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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