Lumbard & Kellner LLC Has $7.62 Million Position in Invesco QQQ Trust (NASDAQ:QQQ)

Lumbard & Kellner LLC decreased its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,790 shares of the exchange traded fund’s stock after selling 314 shares during the period. Invesco QQQ Trust accounts for about 4.4% of Lumbard & Kellner LLC’s portfolio, making the stock its 4th largest holding. Lumbard & Kellner LLC’s holdings in Invesco QQQ Trust were worth $7,624,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in QQQ. FMR LLC boosted its holdings in Invesco QQQ Trust by 4.4% in the 1st quarter. FMR LLC now owns 155,853 shares of the exchange traded fund’s stock valued at $28,000,000 after purchasing an additional 6,637 shares during the period. HC Advisors LLC bought a new stake in Invesco QQQ Trust in the 1st quarter valued at about $400,000. WASHINGTON TRUST Co bought a new stake in Invesco QQQ Trust in the 1st quarter valued at about $71,000. Bartlett & Co. LLC bought a new stake in Invesco QQQ Trust in the 1st quarter valued at about $136,000. Finally, ProVise Management Group LLC boosted its holdings in Invesco QQQ Trust by 4.4% in the 1st quarter. ProVise Management Group LLC now owns 3,275 shares of the exchange traded fund’s stock valued at $624,000 after purchasing an additional 139 shares during the period. 42.99% of the stock is owned by institutional investors and hedge funds.

Shares of Invesco QQQ Trust stock traded up $3.90 on Tuesday, reaching $279.06. 38,525,100 shares of the stock were exchanged, compared to its average volume of 50,201,203. The firm’s 50 day moving average is $276.36 and its 200-day moving average is $235.98. Invesco QQQ Trust has a one year low of $164.93 and a one year high of $303.50.

Separately, ValuEngine downgraded shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd.

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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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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