Invesco QQQ Trust (QQQ) Shares Sold by Brookstone Capital Management
Brookstone Capital Management lowered its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 21.2% during the fourth quarter, HoldingsChannel reports. The firm owned 34,803 shares of the exchange traded fund’s stock after selling 9,376 shares during the period. Brookstone Capital Management’s holdings in Invesco QQQ Trust were worth $5,369,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in QQQ. Toronto Dominion Bank raised its holdings in Invesco QQQ Trust by 2,211.8% during the third quarter. Toronto Dominion Bank now owns 4,693,000 shares of the exchange traded fund’s stock worth $871,915,000 after purchasing an additional 4,490,000 shares in the last quarter. Morgan Stanley raised its holdings in Invesco QQQ Trust by 31.9% during the third quarter. Morgan Stanley now owns 18,007,827 shares of the exchange traded fund’s stock worth $3,345,675,000 after purchasing an additional 4,353,877 shares in the last quarter. Pictet North America Advisors SA increased its holdings in shares of Invesco QQQ Trust by 14,018.3% in the 4th quarter. Pictet North America Advisors SA now owns 3,041,795 shares of the exchange traded fund’s stock valued at $469,227,000 after acquiring an additional 3,020,250 shares during the period. Banque Pictet & Cie SA increased its holdings in shares of Invesco QQQ Trust by 569.1% in the 4th quarter. Banque Pictet & Cie SA now owns 3,159,757 shares of the exchange traded fund’s stock valued at $487,424,000 after acquiring an additional 2,687,482 shares during the period. Finally, Segantii Capital Management Ltd acquired a new position in shares of Invesco QQQ Trust in the 4th quarter valued at $179,393,000. 42.14% of the stock is currently owned by institutional investors.
Separately, Bank of America cut shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.
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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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