Freedom Day Solutions LLC has increased its holdings in the Invesco QQQ ETF by 11.6% in the first quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The firm now owns 940 shares of the exchange-traded fund (ETF), valued at approximately $441,000. This increase follows the purchase of an additional 98 shares during the quarter.
The trend among institutional investors toward increasing their stakes in Invesco QQQ is evident. For instance, Diversified Enterprises LLC boosted its investment by 0.4% in the fourth quarter, bringing its total to 5,240 shares worth $2,679,000 after acquiring an additional 20 shares.
Institutional Interest Grows
Other notable increases include Prevail Innovative Wealth Advisors LLC, which raised its stake by 4.3%, now holding 484 shares valued at $247,000, also after buying an additional 20 shares. Legacy Investment Solutions LLC and Laird Norton Wetherby Wealth Management LLC similarly expanded their investments, with increases of 8.2% and 0.3%, respectively.
As of the latest reports, 44.58% of Invesco QQQ’s stock is held by hedge funds and other institutional investors. This level of institutional interest may reflect confidence in the ETF’s performance and strategy.
Invesco QQQ Performance Overview
On the trading front, shares of Invesco QQQ opened at $555.45 on Friday. The ETF has experienced a 12-month low of $402.39 and a 12-month high of $557.63. The current 50-day simple moving average stands at $525.75, while the 200-day simple moving average is at $505.74.
Invesco QQQ, known for tracking the Nasdaq-100 Index, aims to mirror the price and yield performance of this index. The ETF offers investors a way to purchase units that represent a proportionate interest in the portfolio of securities it holds, which closely aligns with the Nasdaq-100 components.
As institutional investments continue to evolve, the market will be watching how these shifts influence Invesco QQQ’s performance in the coming quarters.
