Founders Capital Management Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Founders Capital Management lessened its position in Invesco QQQ (NASDAQ:QQQ) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,053 shares of the exchange traded fund’s stock after selling 795 shares during the quarter. Invesco QQQ accounts for approximately 8.3% of Founders Capital Management’s portfolio, making the stock its largest holding. Founders Capital Management’s holdings in Invesco QQQ were worth $11,472,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Barrett & Company Inc. purchased a new stake in Invesco QQQ during the first quarter valued at about $26,000. Cascade Investment Advisors Inc. purchased a new stake in Invesco QQQ during the first quarter valued at about $28,000. Elequin Securities LLC purchased a new stake in Invesco QQQ during the first quarter valued at about $47,000. Clear Investment Research LLC boosted its position in Invesco QQQ by 71.7% during the first quarter. Clear Investment Research LLC now owns 158 shares of the exchange traded fund’s stock valued at $51,000 after buying an additional 66 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $55,000. Institutional investors own 43.95% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $3.92 during trading on Friday, reaching $373.35. 14,620,890 shares of the stock were exchanged, compared to its average volume of 53,385,488. The stock’s fifty day moving average is $372.91 and its 200 day moving average is $347.47. Invesco QQQ has a 1 year low of $254.26 and a 1 year high of $387.98.

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.