Butensky & Cohen Financial Security Inc. Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

Butensky & Cohen Financial Security Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,447 shares of the exchange traded fund’s stock after selling 159 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Invesco QQQ were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QQQ. Moneta Group Investment Advisors LLC raised its holdings in Invesco QQQ by 156,045.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock worth $11,580,806,000 after purchasing an additional 43,463,232 shares in the last quarter. Morgan Stanley raised its holdings in Invesco QQQ by 10.0% in the fourth quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock worth $4,477,628,000 after purchasing an additional 1,533,114 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Invesco QQQ by 3.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,761,075 shares of the exchange traded fund’s stock valued at $1,527,972,000 after acquiring an additional 167,217 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco QQQ by 1.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,012,198 shares of the exchange traded fund’s stock valued at $802,145,000 after acquiring an additional 32,891 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Invesco QQQ by 3.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,458,828 shares of the exchange traded fund’s stock valued at $520,925,000 after acquiring an additional 71,410 shares in the last quarter. 43.95% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $370.51 on Monday. Invesco QQQ has a 52-week low of $254.26 and a 52-week high of $387.98. The firm’s 50-day moving average price is $373.20 and its 200-day moving average price is $348.47.

Invesco QQQ 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.