Community Bank N.A. increased its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 2,292.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,370 shares of the exchange traded fund’s stock after acquiring an additional 7,062 shares during the period. Community Bank N.A.’s holdings in Invesco QQQ Trust were worth $1,825,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of Invesco QQQ Trust by 75.3% in the 1st quarter. Morgan Stanley now owns 15,893,579 shares of the exchange traded fund’s stock worth $3,026,138,000 after buying an additional 6,827,922 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in Invesco QQQ Trust during the first quarter valued at approximately $323,111,000. Varma Mutual Pension Insurance Co increased its stake in Invesco QQQ Trust by 131.7% during the 1st quarter. Varma Mutual Pension Insurance Co now owns 6,573,523 shares of the exchange traded fund’s stock valued at $1,251,598,000 after purchasing an additional 3,736,364 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Invesco QQQ Trust by 25.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,963,758 shares of the exchange traded fund’s stock valued at $733,824,000 after purchasing an additional 592,321 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Invesco QQQ Trust by 30.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,361,882 shares of the exchange traded fund’s stock valued at $584,867,000 after purchasing an additional 551,096 shares in the last quarter. 42.71% of the stock is owned by institutional investors.
Invesco QQQ Trust stock traded up $4.66 during mid-day trading on Friday, reaching $265.79. 53,756,159 shares of the company traded hands, compared to its average volume of 40,239,296. Invesco QQQ Trust has a fifty-two week low of $164.93 and a fifty-two week high of $269.79. The firm’s fifty day moving average is $252.05 and its two-hundred day moving average is $224.26.
Separately, ValuEngine lowered shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research note on Thursday, July 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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