Telos Capital Management Inc. has raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.6% during the first quarter of 2023. This increase, disclosed in the firm’s recent Form 13F filing with the Securities and Exchange Commission (SEC), brings Telos Capital’s total ownership to 21,726 shares after acquiring an additional 133 shares in that period. Invesco QQQ now constitutes 1.1% of Telos’s overall portfolio, ranking as its 24th largest investment. As of the latest filing, the value of Telos’s investment in Invesco QQQ stands at approximately $10.2 million.
Several other institutional investors have also adjusted their positions in Invesco QQQ recently. For instance, Diversified Enterprises LLC increased its stake by 0.4% in the last quarter of 2022, owning 5,240 shares now valued at $2.68 million. Similarly, Prevail Innovative Wealth Advisors LLC raised its holdings by 4.3%, owning 484 shares worth approximately $247,000. Other notable adjustments include Legacy Investment Solutions LLC, which boosted its investment by 8.2% to 264 shares valued at $138,000, and Laird Norton Wetherby Wealth Management LLC, which increased its stake by 0.3% to 6,024 shares worth $3.08 million. Finally, Willis Johnson & Associates Inc. raised its ownership by 2.6%, now holding 814 shares valued at $416,000.
Hedge funds and institutional investors collectively own approximately 44.58% of Invesco QQQ’s stock, highlighting the fund’s popularity among large investors.
Invesco QQQ Stock Performance
As of the latest trading session, shares of Invesco QQQ opened at $556.25. The stock has experienced a range over the past year, with a low of $402.39 and a high of $557.63. The average price over the last fifty days stands at $524.27, while the 200-day moving average is $505.52.
Invesco QQQ, known for tracking the performance of the Nasdaq-100 Index, operates under the PowerShares QQQ Trust, Series 1. This unit investment trust aims to reflect the price and yield performance of the Nasdaq-100 Index, allowing investors to purchase units representing undivided interests in the portfolio of securities held by the trust.
The adjustments by Telos Capital Management and other institutional players reflect ongoing interest in Invesco QQQ as a key investment vehicle in the technology sector, particularly given its focus on major tech companies listed on the Nasdaq exchange.
For those interested in tracking institutional movements in Invesco QQQ, HoldingsChannel.com provides updated 13F filings and insider trading information. Interested parties can also subscribe to receive daily summaries of news and ratings related to Invesco QQQ and similar investment opportunities through MarketBeat.com’s free newsletter.
