Itau Unibanco Holding S.A. Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Itau Unibanco Holding S.A. bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,358 shares of the exchange traded fund’s stock, valued at approximately $3,525,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Destiny Capital Corp CO increased its stake in Invesco QQQ by 2.8% in the 2nd quarter. Destiny Capital Corp CO now owns 14,254 shares of the exchange traded fund’s stock valued at $6,829,000 after purchasing an additional 387 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Invesco QQQ by 1.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,448 shares of the exchange traded fund’s stock worth $1,173,000 after buying an additional 25 shares during the last quarter. Holderness Investments Co. raised its stake in shares of Invesco QQQ by 1.2% during the 2nd quarter. Holderness Investments Co. now owns 25,509 shares of the exchange traded fund’s stock worth $12,221,000 after buying an additional 299 shares during the last quarter. Merriman Wealth Management LLC boosted its position in shares of Invesco QQQ by 0.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock worth $2,420,000 after buying an additional 23 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in Invesco QQQ by 35.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,081 shares of the exchange traded fund’s stock valued at $1,476,000 after acquiring an additional 801 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $482.44 on Friday. The firm has a 50-day moving average price of $468.07 and a two-hundred day moving average price of $458.49. Invesco QQQ has a twelve month low of $342.35 and a twelve month 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.