Waters Parkerson & CO. LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Waters Parkerson & CO. LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,952 shares of the exchange traded fund’s stock after selling 148 shares during the period. Waters Parkerson & CO. LLC’s holdings in Invesco QQQ were worth $2,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth $30,000. Deane Retirement Strategies Inc. purchased a new position in Invesco QQQ in the first quarter worth $29,000. Legacy Bridge LLC raised its position in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at $35,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 2.5 %

Shares of QQQ opened at $483.36 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The company has a 50-day simple moving average of $468.32 and a 200-day simple moving average of $458.07.

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.