GYL Financial Synergies LLC boosted its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 172.0% in the 1st quarter, Holdings Channel reports. The firm owned 22,296 shares of the exchange traded fund’s stock after buying an additional 14,100 shares during the quarter. Invesco QQQ Trust accounts for 0.6% of GYL Financial Synergies LLC’s investment portfolio, making the stock its 28th biggest position. GYL Financial Synergies LLC’s holdings in Invesco QQQ Trust were worth $4,006,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers National Bank acquired a new position in Invesco QQQ Trust during the first quarter valued at approximately $28,000. Crosspoint Capital Strategies LLC acquired a new position in Invesco QQQ Trust during the first quarter valued at approximately $43,000. Sontag Advisory LLC acquired a new position in Invesco QQQ Trust during the fourth quarter valued at approximately $46,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Invesco QQQ Trust in the first quarter valued at approximately $61,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Invesco QQQ Trust in the fourth quarter valued at approximately $55,000. 40.90% of the stock is owned by hedge funds and other institutional investors.
Shares of QQQ traded down $1.06 during mid-day trading on Wednesday, reaching $182.34. The company’s stock had a trading volume of 1,746,455 shares, compared to its average volume of 36,213,516. Invesco QQQ Trust has a 1-year low of $143.46 and a 1-year high of $191.32.
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.
Further Reading: Moving Average Convergence Divergence (MACD)
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