Kayne Anderson Rudnick Investment Management LLC Buys 801 Shares of Invesco QQQ (NASDAQ:QQQ)

Kayne Anderson Rudnick Investment Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 35.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,081 shares of the exchange traded fund’s stock after acquiring an additional 801 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Invesco QQQ were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of QQQ. Alaethes Wealth LLC raised its stake in Invesco QQQ by 149.3% in the second quarter. Alaethes Wealth LLC now owns 1,334 shares of the exchange traded fund’s stock valued at $640,000 after purchasing an additional 799 shares in the last quarter. Asset Management Group Inc. increased its holdings in Invesco QQQ by 1.9% in the 2nd quarter. Asset Management Group Inc. now owns 40,365 shares of the exchange traded fund’s stock valued at $19,340,000 after buying an additional 747 shares during the period. TPG Advisors LLC acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at approximately $404,000. Capstone Triton Financial Group LLC bought a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $202,000. Finally, Kiely Wealth Advisory Group Inc. boosted its position in shares of Invesco QQQ by 5.7% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 4,365 shares of the exchange traded fund’s stock worth $1,947,000 after acquiring an additional 234 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $483.04 on Tuesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company’s 50 day simple moving average is $467.81 and its 200 day simple moving average is $458.89.

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.