Frank Rimerman Advisors LLC Has $74.90 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Frank Rimerman Advisors LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,324 shares of the exchange traded fund’s stock after selling 98 shares during the period. Invesco QQQ accounts for approximately 5.3% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Frank Rimerman Advisors LLC’s holdings in Invesco QQQ were worth $74,897,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Atwater Malick LLC purchased a new position in Invesco QQQ during the 1st quarter worth $293,000. Westwood Holdings Group Inc. grew its stake in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after acquiring an additional 1,993 shares during the last quarter. GenWealth Group Inc. grew its stake in shares of Invesco QQQ by 5.8% during the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after acquiring an additional 2,325 shares during the last quarter. Socha Financial Group LLC increased its holdings in shares of Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after acquiring an additional 1,153 shares in the last quarter. Finally, SVB Wealth LLC raised its position in shares of Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $482.44 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The company’s 50 day moving average is $468.07 and its two-hundred day moving average is $458.49.

Invesco QQQ 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.