Invesco QQQ (NASDAQ:QQQ) is Commonwealth Financial Services LLC’s 4th Largest Position

Commonwealth Financial Services LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 16.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,374 shares of the exchange traded fund’s stock after buying an additional 7,795 shares during the quarter. Invesco QQQ makes up approximately 5.6% of Commonwealth Financial Services LLC’s portfolio, making the stock its 4th biggest position. Commonwealth Financial Services LLC’s holdings in Invesco QQQ were worth $27,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in shares of Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $304,591,000. 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 $482.44 on Monday. The business has a 50 day moving average of $468.07 and a 200 day moving average of $458.63. Invesco QQQ has a 52 week low of $342.35 and a 52 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.