Thoroughbred Financial Services LLC has reduced its stake in Invesco QQQ by 17.0% during the second quarter of 2023, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The firm now holds 47,823 shares of the exchange-traded fund (ETF) after selling 9,814 shares in the quarter. Invesco QQQ represents approximately 1.8% of Thoroughbred Financial Services’ investment portfolio, making it the firm’s sixth-largest holding. As of the most recent filing, the value of its holdings in Invesco QQQ stands at $26,381,000.
Several other institutional investors have also adjusted their positions in Invesco QQQ recently. For instance, Brighton Jones LLC increased its stake by 15.0% in the fourth quarter, bringing its total to 38,348 shares valued at $19,605,000 after acquiring an additional 4,989 shares. Similarly, Revolve Wealth Partners LLC raised its position by 3.5%, now owning 5,257 shares worth $2,687,000 after purchasing an extra 176 shares.
Wealth Group Ltd. made a more substantial increase, raising its holdings in Invesco QQQ by an impressive 305.2% in the first quarter. The firm now owns 6,419 shares valued at $3,010,000 following the acquisition of 4,835 shares. Additionally, Graypoint LLC boosted its position by 85.7%, owning 2,583 shares valued at $1,211,000 after purchasing 1,192 shares. Mystic Asset Management Inc. also increased its stake by 1.9%, now holding 17,241 shares valued at $8,085,000.
Overall, institutional investors and hedge funds own approximately 44.58% of Invesco QQQ’s stock, indicating significant interest in the ETF among major financial players.
Invesco QQQ Performance and Dividend Update
Invesco QQQ shares opened at $608.86 on Friday, reflecting a 0.1% increase. The ETF has experienced volatility in the past year, with a low of $402.39 and a high of $637.01. Its fifty-day moving average price is $605.86, while the two-hundred day moving average price is $564.57.
Invesco QQQ is designed as a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The trust aims to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. Investors can purchase units representing proportionate undivided interests in the portfolio of securities held by the trust, which closely mirrors the component securities of the Nasdaq-100 Index.
For those interested in tracking further changes in holdings or insider trades related to Invesco QQQ, resources such as HoldingsChannel.com provide updated information on institutional investments and SEC filings.
