Elite Wealth Management Inc. Has $7.12 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Elite Wealth Management Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,866 shares of the exchange traded fund’s stock after selling 562 shares during the quarter. Invesco QQQ accounts for approximately 0.2% of Elite Wealth Management Inc.’s holdings, making the stock its 13th biggest position. Elite Wealth Management Inc.’s holdings in Invesco QQQ were worth $7,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of QQQ. Cedar Wealth Management LLC grew its stake in shares of Invesco QQQ by 0.8% in the 2nd quarter. Cedar Wealth Management LLC now owns 3,281 shares of the exchange traded fund’s stock valued at $1,572,000 after purchasing an additional 27 shares during the period. Etfidea LLC grew its stake in shares of Invesco QQQ by 3.8% during the second quarter. Etfidea LLC now owns 19,614 shares of the exchange traded fund’s stock worth $9,397,000 after purchasing an additional 718 shares during the period. Bridges Investment Management Inc. acquired a new stake in shares of Invesco QQQ during the second quarter worth $388,000. Callan Capital LLC grew its stake in shares of Invesco QQQ by 11.6% during the second quarter. Callan Capital LLC now owns 3,508 shares of the exchange traded fund’s stock worth $1,681,000 after purchasing an additional 365 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Invesco QQQ by 1.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,800,000 shares of the exchange traded fund’s stock worth $862,398,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $483.36 on Friday. The stock’s 50-day moving average is $468.32 and its 200-day moving average is $458.07. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ 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.