Altus Wealth Management Boosts Invesco QQQ Position by 1.4%

Altus Wealth Management LLC has increased its stake in Invesco QQQ by 1.4% during the third quarter of 2023, according to Holdings Channel. The firm now holds 66,625 shares of the exchange-traded fund (ETF), having acquired an additional 936 shares during the quarter. This adjustment positions Invesco QQQ as Altus Wealth Management’s second largest investment, representing approximately 17.7% of its overall portfolio. At the end of the most recent quarter, the total value of Altus’s holdings in Invesco QQQ stood at about $40,000,000.

Other Institutional Investments in Invesco QQQ

Recent activity by other hedge funds illustrates a growing interest in Invesco QQQ. Morgan Dempsey Capital Management LLC entered the market with a new stake valued at approximately $30,000 in the second quarter. Meanwhile, Navigoe LLC significantly increased its holdings by 300% in Q3, now owning 60 shares, valued at around $36,000 after purchasing an additional 45 shares.

Marshall & Sullivan Inc. WA also made headlines with a new investment in Invesco QQQ during the second quarter, valued at about $41,000. Moser Wealth Advisors LLC exhibited a remarkable 930% increase in its stake during the same quarter, bringing their total to 103 shares, worth $57,000. Additionally, Canoe Financial LP entered the scene with a new stake valued at approximately $64,000 in Q3. Collectively, institutional investors and hedge funds own about 44.58% of Invesco QQQ’s stock.

Invesco QQQ’s Stock Performance

On Thursday, shares of Invesco QQQ opened at $614.31. The ETF’s 50-day simple moving average is reported at $616.77, while its 200-day simple moving average stands at $588.74. Over the past year, Invesco QQQ has seen significant fluctuations, recording a low of $402.39 and a high of $637.01.

Invesco QQQ is structured as a unit investment trust, providing investors with shares that track the performance of the Nasdaq-100 Index. The trust aims to deliver investment results that closely correspond to the index’s price and yield performance, allowing investors to hold a proportional interest in the diverse portfolio of securities that make up the index.

For those interested in tracking additional activity surrounding Invesco QQQ, resources are available on HoldingsChannel.com, which features the latest 13F filings and insider trades. Investors can also subscribe to receive daily summaries of news and analyst ratings related to Invesco QQQ and similar investment opportunities.