Asset Management Group Inc. Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Asset Management Group Inc. lifted its position in Invesco QQQ (NASDAQ:QQQ) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,365 shares of the exchange traded fund’s stock after acquiring an additional 747 shares during the quarter. Invesco QQQ accounts for approximately 3.6% of Asset Management Group Inc.’s investment portfolio, making the stock its 3rd largest holding. Asset Management Group Inc.’s holdings in Invesco QQQ were worth $19,340,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ during the first quarter valued at about $29,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter valued at about $30,000. Legacy Bridge LLC grew its stake in Invesco QQQ by 800.0% in 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 last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in Invesco QQQ in the fourth quarter worth about $35,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $482.44 on Friday. The company’s 50-day simple moving average is $468.07 and its 200-day simple moving average is $458.33. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

About Invesco QQQ

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.