VestGen Advisors Reduces Stake in Invesco QQQ by 1.1%

VestGen Advisors LLC has decreased its investment in Invesco QQQ (NASDAQ: QQQ) by 1.1% during the second quarter of 2023. According to the firm’s latest 13F filing with the Securities and Exchange Commission (SEC), VestGen now holds 175,063 shares after selling 1,907 shares during this period. Invesco QQQ represents approximately 3.9% of VestGen’s total portfolio, making it the second largest position in their holdings, valued at around $97,075,000.

Several other institutional investors have also adjusted their positions in Invesco QQQ recently. Notably, Kingstone Capital Partners Texas LLC significantly increased its holdings by a staggering 704,593.7% during the second quarter, now owning 67,615,365 shares worth approximately $37.3 billion after acquiring an additional 67,605,770 shares.

In a remarkable surge, Goldman Sachs Group Inc. enhanced its stake by 959.6% in the first quarter, amassing 24,097,975 shares valued at about $11.3 billion after buying an extra 21,823,765 shares. Additionally, Mullooly Asset Management Inc. entered the market with a new position in Invesco QQQ worth around $2.78 billion during the first quarter.

Meanwhile, JPMorgan Chase & Co. raised its holdings by 42.4% in the second quarter, bringing its total to 4,895,265 shares valued at approximately $2.7 billion after an acquisition of 1,457,109 shares. Northwestern Mutual Wealth Management Co. also increased its stake by 0.7%, now owning 3,223,327 shares valued at about $1.78 billion.

Hedge funds and institutional investors collectively own around 44.58% of Invesco QQQ’s stock, indicating a strong interest in this exchange-traded fund.

Current Trading Status and Performance

As of the latest trading session on Friday, shares of Invesco QQQ opened at $619.29. The fund has experienced a 50-day simple moving average of $609.04 and a 200-day average of $573.17. Over the past year, Invesco QQQ has seen a low of $402.39 and a high of $637.01.

Invesco QQQ is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The Trust aims to provide investment results that generally correspond with the price and yield performance of the Nasdaq-100 Index. This gives investors the opportunity to gain exposure to a diversified portfolio of securities that closely mirrors the index’s component securities.

For those interested in tracking the latest movements of QQQ and other hedge fund activities, platforms like HoldingsChannel.com provide updated 13F filings and insider trades, ensuring investors have access to critical market information.