Embree Financial Group has reduced its stake in Invesco QQQ (NASDAQ: QQQ) by 2.8% during the third quarter of 2023, according to a recent Form 13F filing with the Securities & Exchange Commission. The firm now holds 114,767 shares of the exchange-traded fund after selling 3,269 shares during this period. This reduction makes Invesco QQQ the largest position in Embree Financial Group’s portfolio, representing approximately 9.2% of its total holdings, valued at around $68,903,000 at the end of the quarter.
Several other institutional investors have also adjusted their positions in Invesco QQQ recently. Amundi increased its holdings by 6.3% in the first quarter, now owning 110,903 shares valued at $49,980,000 after acquiring an additional 6,600 shares. Similarly, BCGM Wealth Management LLC raised its stake by 13.6% during the second quarter, bringing its total to 25,597 shares worth $14,120,000.
Other notable transactions include Prospect Financial Services LLC, which increased its investment in Invesco QQQ by 9.1%, owning 11,765 shares valued at $6,490,000. Additionally, Wisconsin Wealth Advisors LLC grew its position by 21.2%, now holding 6,747 shares valued at $3,722,000. Finally, Mayflower Financial Advisors LLC increased its stake by 17.5%, with a total of 6,017 shares valued at $3,319,000. Currently, institutional investors and hedge funds own approximately 44.58% of Invesco QQQ’s shares.
Recent Performance of Invesco QQQ Stock
As of the latest trading session, shares of Invesco QQQ opened at $609.11. The stock has shown significant volatility over the past year, with a 52-week low of $402.39 and a high of $637.01. The current 50-day moving average price stands at $613.59, while the 200-day moving average price is at $582.63.
Invesco QQQ is structured as a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. Its primary objective is to reflect the price and yield performance of the Nasdaq-100 Index. This allows investors to purchase units of beneficial interest in the Trust, which contains nearly all securities from the index, maintaining similar weightings as the underlying components.
As institutional interest continues to shape the landscape of Invesco QQQ, analysts suggest that the ongoing adjustments by significant investors could influence future market performance. Investors are encouraged to monitor these trends closely, as they may signal broader shifts in market dynamics.
For those interested in tracking further developments, resources such as HoldingsChannel.com provide insights into 13F filings and insider trades related to Invesco QQQ.
