Pinnacle Associates Ltd. raised its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 139,855 shares of the exchange traded fund’s stock after purchasing an additional 26,260 shares during the quarter. Invesco QQQ Trust accounts for 0.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 26th biggest holding. Pinnacle Associates Ltd.’s holdings in Invesco QQQ Trust were worth $26,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. LGL Partners LLC grew its stake in shares of Invesco QQQ Trust by 10.8% in the 1st quarter. LGL Partners LLC now owns 15,123 shares of the exchange traded fund’s stock valued at $2,880,000 after purchasing an additional 1,473 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Invesco QQQ Trust by 38.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 32,309 shares of the exchange traded fund’s stock valued at $6,152,000 after purchasing an additional 8,956 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Invesco QQQ Trust by 99.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 20,080 shares of the exchange traded fund’s stock valued at $3,823,000 after purchasing an additional 10,035 shares during the last quarter. Fairview Capital Investment Management LLC grew its stake in shares of Invesco QQQ Trust by 9.9% in the 1st quarter. Fairview Capital Investment Management LLC now owns 1,661 shares of the exchange traded fund’s stock valued at $316,000 after purchasing an additional 150 shares during the last quarter. Finally, Summit X LLC grew its stake in shares of Invesco QQQ Trust by 3.7% in the 1st quarter. Summit X LLC now owns 2,724 shares of the exchange traded fund’s stock valued at $520,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 43.35% of the company’s stock.

Shares of QQQ traded up $1.08 during mid-day trading on Wednesday, hitting $236.71. The company’s stock had a trading volume of 27,687,033 shares, compared to its average volume of 39,590,204. The firm has a 50-day simple moving average of $220.31 and a 200 day simple moving average of $211.83. Invesco QQQ Trust has a 1-year low of $164.93 and a 1-year high of $237.47.

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

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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