Invesco QQQ (NASDAQ:QQQ) is Garden State Investment Advisory Services LLC’s Largest Position

Garden State Investment Advisory Services LLC raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,409 shares of the exchange traded fund’s stock after purchasing an additional 2,817 shares during the period. Invesco QQQ accounts for approximately 4.5% of Garden State Investment Advisory Services LLC’s investment portfolio, making the stock its biggest holding. Garden State Investment Advisory Services LLC’s holdings in Invesco QQQ were worth $13,171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the 2nd quarter worth $30,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ during the 1st quarter worth about $29,000. Legacy Bridge LLC grew its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.2 %

NASDAQ:QQQ opened at $482.44 on Friday. The firm’s fifty day moving average is $468.07 and its two-hundred day moving average is $458.33. Invesco QQQ has a one year low of $342.35 and a one year 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.