Spence Asset Management Sells 2,981 Shares of Invesco QQQ (NASDAQ:QQQ)

Spence Asset Management reduced its stake in Invesco QQQ (NASDAQ:QQQFree Report) by 31.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,496 shares of the exchange traded fund’s stock after selling 2,981 shares during the period. Invesco QQQ makes up approximately 0.7% of Spence Asset Management’s investment portfolio, making the stock its 22nd biggest position. Spence Asset Management’s holdings in Invesco QQQ were worth $2,400,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Barrett & Company Inc. bought a new position in Invesco QQQ in the first quarter valued at approximately $26,000. Cascade Investment Advisors Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $28,000. Elequin Securities LLC bought a new stake in shares of Invesco QQQ during the 1st quarter worth $47,000. Clear Investment Research LLC boosted its stake in Invesco QQQ by 71.7% in 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 in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $377.27 on Friday. The company’s 50 day moving average price is $372.91 and its two-hundred day moving average price is $347.47. Invesco QQQ has a fifty-two week low of $254.26 and a fifty-two week high of $387.98.

Invesco QQQ Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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