Meridian Wealth Management LLC trimmed its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 67,276 shares of the exchange traded fund’s stock after selling 1,169 shares during the quarter. Invesco QQQ Trust comprises approximately 5.4% of Meridian Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Meridian Wealth Management LLC’s holdings in Invesco QQQ Trust were worth $12,499,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC purchased a new position in shares of Invesco QQQ Trust during the 2nd quarter valued at about $104,000. Providence Capital Advisors LLC lifted its position in shares of Invesco QQQ Trust by 487.4% during the 2nd quarter. Providence Capital Advisors LLC now owns 605 shares of the exchange traded fund’s stock valued at $104,000 after buying an additional 502 shares in the last quarter. Opera Trading Capital purchased a new position in shares of Invesco QQQ Trust during the 2nd quarter valued at about $112,000. Quad Cities Investment Group LLC purchased a new position in shares of Invesco QQQ Trust during the 2nd quarter valued at about $128,000. Finally, MinichMacGregor Wealth Management LLC purchased a new position in shares of Invesco QQQ Trust during the 2nd quarter valued at about $143,000. 40.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of QQQ stock traded up $0.54 during trading hours on Friday, reaching $173.72. 8,387,585 shares of the company traded hands, compared to its average volume of 57,748,780. Invesco QQQ Trust has a 12-month low of $146.33 and a 12-month high of $187.53.
About Invesco QQQ Trust
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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