Selkirk Management LLC Acquires New Position in Invesco QQQ Trust (NASDAQ:QQQ)

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Selkirk Management LLC acquired a new stake in Invesco QQQ Trust (NASDAQ:QQQ) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,000 shares of the exchange traded fund’s stock, valued at approximately $6,664,000. Invesco QQQ Trust accounts for 3.8% of Selkirk Management LLC’s holdings, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Varma Mutual Pension Insurance Co lifted its holdings in Invesco QQQ Trust by 131.7% in the first quarter. Varma Mutual Pension Insurance Co now owns 6,573,523 shares of the exchange traded fund’s stock valued at $1,251,598,000 after buying an additional 3,736,364 shares during the period. Envestnet Asset Management Inc. increased its stake in Invesco QQQ Trust by 33.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,371,437 shares of the exchange traded fund’s stock valued at $451,522,000 after purchasing an additional 598,648 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Invesco QQQ Trust by 13.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,267,953 shares of the exchange traded fund’s stock valued at $431,819,000 after purchasing an additional 266,982 shares in the last quarter. Charles Schwab Investment Advisory Inc. increased its stake in Invesco QQQ Trust by 49.8% in the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 2,214,775 shares of the exchange traded fund’s stock valued at $470,883,000 after purchasing an additional 736,028 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Invesco QQQ Trust by 9.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,810,786 shares of the exchange traded fund’s stock valued at $344,819,000 after purchasing an additional 161,999 shares in the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.

Separately, ValuEngine raised shares of Invesco QQQ Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd.

Shares of QQQ stock traded up $0.79 during trading hours on Monday, hitting $234.15. 2,466,949 shares of the company were exchanged, compared to its average volume of 39,925,252. Invesco QQQ Trust has a 52 week low of $164.93 and a 52 week high of $237.47. The business has a 50 day moving average of $217.69 and a two-hundred day moving average of $211.18.

Invesco QQQ Trust Company 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.

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

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