TFR Capital LLC has raised its investment in Invesco QQQ (NASDAQ: QQQ) to approximately $5.29 million, marking a 0.3% increase in its holdings during the first quarter of 2023. The company disclosed this information in its recent Form 13F filing with the Securities & Exchange Commission. Following the acquisition of an additional 35 shares, TFR Capital now owns a total of 11,273 shares of the exchange-traded fund (ETF), which represents about 2.2% of its overall portfolio.
The recent adjustments in TFR Capital’s holdings position Invesco QQQ as its 11th largest investment. The value of these shares was estimated at $5,286,000 as of the end of March 2023. This growth in investment reflects TFR Capital’s strategy to capitalize on the performance of the technology sector, which Invesco QQQ primarily tracks through its focus on the Nasdaq-100 Index.
Institutional Investors Increase Positions
Several other institutional investors have also made significant changes to their positions in Invesco QQQ. Notably, Ameriprise Financial Inc. increased its stake by 20.2% during the fourth quarter of 2022, acquiring an additional 756,990 shares. Ameriprise now holds 4,500,368 shares valued at approximately $2.3 billion.
Similarly, Price T Rowe Associates Inc. MD raised its holdings by 34.8% during the same period, now owning 2,199,820 shares worth around $1.12 billion. In a remarkable move, GAMMA Investing LLC boosted its stake by an astonishing 55,795.2% in the first quarter, acquiring 1,868,580 shares to reach a total of 1,871,929 shares, valued at approximately $8.78 billion.
Cambridge Investment Research Advisors Inc. also increased its holdings in Invesco QQQ by 1.1%, now owning 1,342,830 shares worth about $629.68 million. Additionally, Senator Investment Group LP entered the scene with a new stake valued at approximately $679.94 million during the fourth quarter.
Collectively, institutional investors and hedge funds own around 44.58% of Invesco QQQ’s stock, underscoring the growing confidence in this ETF as a viable investment option.
Invesco QQQ’s Performance Metrics
As of the latest trading session, Invesco QQQ opened at $554.20. The stock has experienced fluctuations, with a 50-day simple moving average of $527.06 and a 200-day simple moving average of $505.74. Over the past year, the ETF reached a low of $402.39 and a high of $557.63, reflecting the dynamic nature of technology stocks in the current market environment.
Invesco QQQ, structured as a unit investment trust, aims to replicate the price and yield performance of the Nasdaq-100 Index. This provides investors with an opportunity to gain exposure to a diverse portfolio of large-cap technology companies, making it a popular choice among institutional and retail investors alike.
The ongoing adjustments by TFR Capital and other institutional investors indicate strong interest in the performance potential of Invesco QQQ. As the technology sector continues to evolve, these investments may provide significant returns for stakeholders in the months to come.
