Allen Investment Management LLC lessened its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 83.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 20,467 shares of the exchange traded fund’s stock after selling 106,118 shares during the quarter. Allen Investment Management LLC’s holdings in Invesco QQQ Trust were worth $3,677,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stony Point Wealth Management Inc. grew its holdings in shares of Invesco QQQ Trust by 9.5% during the first quarter. Stony Point Wealth Management Inc. now owns 59,238 shares of the exchange traded fund’s stock worth $10,643,000 after purchasing an additional 5,144 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in shares of Invesco QQQ Trust during the first quarter worth about $379,000. Providence Wealth Advisors LLC grew its holdings in shares of Invesco QQQ Trust by 7.3% during the first quarter. Providence Wealth Advisors LLC now owns 14,332 shares of the exchange traded fund’s stock worth $2,602,000 after purchasing an additional 970 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Invesco QQQ Trust by 8.3% during the fourth quarter. First Manhattan Co. now owns 6,929 shares of the exchange traded fund’s stock worth $1,069,000 after purchasing an additional 530 shares in the last quarter. Finally, Whitnell & Co. grew its holdings in shares of Invesco QQQ Trust by 306.1% during the fourth quarter. Whitnell & Co. now owns 796 shares of the exchange traded fund’s stock worth $123,000 after purchasing an additional 600 shares in the last quarter. 40.35% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ QQQ opened at $173.95 on Monday. Invesco QQQ Trust has a 12 month low of $143.46 and a 12 month high of $191.32.

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Invesco QQQ Trust 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.

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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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