Merriman Wealth Management LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Merriman Wealth Management LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,044 shares of the exchange traded fund’s stock after buying an additional 23 shares during the quarter. Merriman Wealth Management LLC’s holdings in Invesco QQQ were worth $2,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC grew its position in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Invesco QQQ by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after buying an additional 64,401 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Invesco QQQ by 10.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock valued at $1,073,929,000 after acquiring an additional 206,608 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.2 %

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

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.