Toth Financial Advisory Corp Reduces Position in Invesco QQQ Trust (NASDAQ:QQQ)
Toth Financial Advisory Corp decreased its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 48.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,425 shares of the exchange traded fund’s stock after selling 15,614 shares during the period. Toth Financial Advisory Corp’s holdings in Invesco QQQ Trust were worth $4,067,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in QQQ. Advisor Group Holdings Inc. purchased a new stake in shares of Invesco QQQ Trust in the first quarter valued at $323,111,000. Morgan Stanley grew its position in shares of Invesco QQQ Trust by 75.3% in the first quarter. Morgan Stanley now owns 15,893,579 shares of the exchange traded fund’s stock valued at $3,026,138,000 after purchasing an additional 6,827,922 shares during the period. Varma Mutual Pension Insurance Co grew its position in shares of 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 purchasing an additional 3,736,364 shares during the period. Sumitomo Mitsui Financial Group Inc. boosted its holdings in Invesco QQQ Trust by 7,255.2% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 1,285,168 shares of the exchange traded fund’s stock valued at $244,696,000 after acquiring an additional 1,267,695 shares during the last quarter. Finally, Nippon Life Insurance Co. acquired a new position in Invesco QQQ Trust in the first quarter valued at $196,257,000. 42.71% of the stock is owned by institutional investors.
Shares of QQQ traded up $1.83 during midday trading on Tuesday, reaching $260.37. 71,469,216 shares of the company were exchanged, compared to its average volume of 35,804,712. The stock has a 50-day moving average price of $243.32 and a 200-day moving average price of $220.17. Invesco QQQ Trust has a 1-year low of $164.93 and a 1-year high of $269.79.
Separately, ValuEngine cut Invesco QQQ Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd.
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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