Meridian Wealth Management LLC raised its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 2.3% during the 1st quarter, HoldingsChannel reports. The fund owned 66,389 shares of the exchange traded fund’s stock after acquiring an additional 1,515 shares during the quarter. Invesco QQQ Trust accounts for approximately 5.0% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. Meridian Wealth Management LLC’s holdings in Invesco QQQ Trust were worth $11,927,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in QQQ. Ellis Investment Partners LLC raised its holdings in shares of Invesco QQQ Trust by 17,883.3% in the 1st quarter. Ellis Investment Partners LLC now owns 6,329,777 shares of the exchange traded fund’s stock valued at $6,329,000 after acquiring an additional 6,294,579 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Invesco QQQ Trust by 267,182.0% in the 4th quarter. Deutsche Bank AG now owns 5,043,612 shares of the exchange traded fund’s stock valued at $778,025,000 after acquiring an additional 5,041,725 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Invesco QQQ Trust in the 1st quarter valued at about $596,218,000. Canada Pension Plan Investment Board purchased a new stake in shares of Invesco QQQ Trust in the 4th quarter valued at about $231,371,000. Finally, Swiss RE Ltd. purchased a new stake in shares of Invesco QQQ Trust in the 4th quarter valued at about $216,581,000. 40.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:QQQ traded down $0.78 on Friday, hitting $182.64. The company’s stock had a trading volume of 22,456,014 shares, compared to its average volume of 36,060,396. Invesco QQQ Trust has a 1 year low of $143.46 and a 1 year high of $191.32.
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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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