Elite Wealth Management Inc. Has $7.12 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Elite Wealth Management Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 14,866 shares of the exchange traded fund’s stock after selling 562 shares during the quarter. Invesco QQQ comprises approximately 0.2% of Elite Wealth Management Inc.’s holdings, making the stock its 13th largest position. Elite Wealth Management Inc.’s holdings in Invesco QQQ were worth $7,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in QQQ. Prospect Financial Services LLC raised its holdings in Invesco QQQ by 0.3% in the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares during the last quarter. Sweeney & Michel LLC grew its holdings in shares of Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after purchasing an additional 22 shares in the last quarter. Family Firm Inc. increased its holdings in Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after purchasing an additional 22 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares during the period. Finally, Second Line Capital LLC lifted its position in shares of Invesco QQQ by 2.6% during the 1st quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock worth $422,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $483.36 on Friday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The company has a fifty day simple moving average of $468.32 and a 200-day simple moving average of $458.07.

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.