Maple Capital Management Inc. Has $542,000 Position in Invesco QQQ Trust (QQQ)
Maple Capital Management Inc. lowered its position in Invesco QQQ Trust (NASDAQ:QQQ) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,511 shares of the exchange traded fund’s stock after selling 355 shares during the quarter. Maple Capital Management Inc.’s holdings in Invesco QQQ Trust were worth $542,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in QQQ. Morgan Stanley grew its holdings in shares of Invesco QQQ Trust by 31.9% in the third quarter. Morgan Stanley now owns 18,007,827 shares of the exchange traded fund’s stock valued at $3,345,675,000 after purchasing an additional 4,353,877 shares during the period. Pictet North America Advisors SA boosted its stake in Invesco QQQ Trust by 14,018.3% during the fourth quarter. Pictet North America Advisors SA now owns 3,041,795 shares of the exchange traded fund’s stock worth $469,227,000 after buying an additional 3,020,250 shares during the period. Banque Pictet & Cie SA boosted its stake in Invesco QQQ Trust by 569.1% during the fourth quarter. Banque Pictet & Cie SA now owns 3,159,757 shares of the exchange traded fund’s stock worth $487,424,000 after buying an additional 2,687,482 shares during the period. Canada Pension Plan Investment Board purchased a new position in Invesco QQQ Trust during the fourth quarter worth about $231,371,000. Finally, Swiss RE Ltd. purchased a new position in Invesco QQQ Trust during the fourth quarter worth about $216,581,000. 48.75% of the stock is owned by hedge funds and other institutional investors.
Shares of QQQ stock opened at $178.35 on Friday. Invesco QQQ Trust has a 1-year low of $143.46 and a 1-year high of $187.53.
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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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