Davidson Capital Management Inc. Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Davidson Capital Management Inc. cut its stake in Invesco QQQ (NASDAQ:QQQ) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,848 shares of the exchange traded fund’s stock after selling 199 shares during the period. Invesco QQQ makes up 6.6% of Davidson Capital Management Inc.’s holdings, making the stock its 4th largest position. Davidson Capital Management Inc.’s holdings in Invesco QQQ were worth $21,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its position in Invesco QQQ by 10.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 740 shares of the exchange traded fund’s stock worth $355,000 after acquiring an additional 69 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Invesco QQQ by 6.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 41,293 shares of the exchange traded fund’s stock worth $19,784,000 after purchasing an additional 2,420 shares in the last quarter. Retirement Investment Advisors Inc. acquired a new position in Invesco QQQ during the second quarter worth $3,645,000. GM Advisory Group LLC grew its position in Invesco QQQ by 5.7% in the second quarter. GM Advisory Group LLC now owns 1,928 shares of the exchange traded fund’s stock valued at $924,000 after purchasing an additional 104 shares in the last quarter. Finally, Brighton Jones LLC grew its position in Invesco QQQ by 14.3% in the second quarter. Brighton Jones LLC now owns 33,464 shares of the exchange traded fund’s stock valued at $16,033,000 after purchasing an additional 4,179 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $483.36 on Friday. The company’s 50-day moving average price is $468.32 and its two-hundred day moving average price is $458.07. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ 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.