Retirement Investment Advisors Inc. Makes New $3.65 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Retirement Investment Advisors Inc. bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,608 shares of the exchange traded fund’s stock, valued at approximately $3,645,000. Invesco QQQ makes up about 0.4% of Retirement Investment Advisors Inc.’s holdings, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth approximately $28,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ during the first quarter valued at approximately $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Legacy Bridge LLC boosted its stake in shares of Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $483.36 on Friday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The business has a 50 day moving average price of $468.32 and a 200-day moving average price of $458.07.

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.