Towercrest Capital Management Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Towercrest Capital Management cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 19.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,072 shares of the exchange traded fund’s stock after selling 490 shares during the quarter. Towercrest Capital Management’s holdings in Invesco QQQ were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Jackson Thornton Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth about $201,000. Mirae Asset Securities USA Inc. raised its stake in shares of Invesco QQQ by 49.3% in the fourth quarter. Mirae Asset Securities USA Inc. now owns 671,641 shares of the exchange traded fund’s stock worth $343,363,000 after buying an additional 221,641 shares during the period. Congress Wealth Management LLC DE raised its stake in shares of Invesco QQQ by 5.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 72,057 shares of the exchange traded fund’s stock worth $36,839,000 after buying an additional 3,662 shares during the period. Clune & Associates LTD. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $736,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $279,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.3 %

Shares of QQQ opened at $480.84 on Monday. The business’s 50 day moving average is $511.30 and its 200 day moving average is $504.45. The company has a market capitalization of $303.05 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81.

About Invesco QQQ

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.