Steel Grove Capital Advisors LLC Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Steel Grove Capital Advisors LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 92.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,058 shares of the exchange traded fund’s stock after selling 3,158,701 shares during the period. Invesco QQQ comprises 18.2% of Steel Grove Capital Advisors LLC’s holdings, making the stock its 2nd largest holding. Steel Grove Capital Advisors LLC’s holdings in Invesco QQQ were worth $132,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners LLC increased its position in Invesco QQQ by 68.0% during the 4th quarter. Vantage Financial Partners LLC now owns 29,550 shares of the exchange traded fund’s stock worth $12,101,000 after purchasing an additional 11,957 shares in the last quarter. Concentrum Wealth Management grew its holdings in shares of Invesco QQQ by 15.4% during the fourth quarter. Concentrum Wealth Management now owns 14,662 shares of the exchange traded fund’s stock worth $6,004,000 after purchasing an additional 1,962 shares during the last quarter. Rollins Financial increased its stake in shares of Invesco QQQ by 11.8% in the fourth quarter. Rollins Financial now owns 187,590 shares of the exchange traded fund’s stock valued at $76,822,000 after buying an additional 19,785 shares during the period. Gryphon Financial Partners LLC increased its position in Invesco QQQ by 30.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,047 shares of the exchange traded fund’s stock valued at $1,248,000 after acquiring an additional 706 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Invesco QQQ by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 8,437 shares of the exchange traded fund’s stock valued at $3,455,000 after purchasing an additional 102 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $482.44 on Monday. The firm has a fifty day simple moving average of $468.07 and a 200 day simple moving average of $458.63. 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.