EWG Elevate Inc. purchased a new stake in Invesco QQQ Trust (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,141 shares of the exchange traded fund’s stock, valued at approximately $2,369,000. Invesco QQQ Trust makes up 1.3% of EWG Elevate Inc.’s holdings, making the stock its 24th biggest position.
Several other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in Invesco QQQ Trust by 12.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 8,372 shares of the exchange traded fund’s stock valued at $1,581,000 after purchasing an additional 911 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in shares of Invesco QQQ Trust by 0.6% during the third quarter. Legend Financial Advisors Inc. now owns 70,479 shares of the exchange traded fund’s stock valued at $13,306,000 after buying an additional 411 shares during the period. Cavalier Investments LLC acquired a new stake in Invesco QQQ Trust during the third quarter worth approximately $3,226,000. Bourgeon Capital Management LLC acquired a new stake in Invesco QQQ Trust during the third quarter worth approximately $28,000. Finally, Global Retirement Partners LLC grew its stake in Invesco QQQ Trust by 1.2% in the 3rd quarter. Global Retirement Partners LLC now owns 46,825 shares of the exchange traded fund’s stock worth $8,841,000 after acquiring an additional 568 shares during the period. 39.33% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:QQQ opened at $222.83 on Wednesday. The stock’s 50-day moving average price is $215.52 and its two-hundred day moving average price is $198.70. Invesco QQQ Trust has a 12-month low of $160.99 and a 12-month high of $225.88.
Separately, ValuEngine cut Invesco QQQ Trust from a “hold” rating to a “sell” rating in a report on Tuesday.
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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