Retirement Planning Group Reduces Invesco QQQ Holdings by 2.1%

Retirement Planning Group LLC has reduced its stake in Invesco QQQ (NASDAQ: QQQ) by 2.1% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now holds 38,529 shares of the exchange-traded fund after selling 845 shares during this period. This adjustment represents approximately 0.9% of Retirement Planning Group’s total investment portfolio, making Invesco QQQ its 22nd largest position, valued at around $21.25 million.

Several other institutional investors have also altered their positions in Invesco QQQ. Morgan Dempsey Capital Management LLC initiated a new investment in the fund valued at approximately $30,000 during the second quarter. Similarly, Marshall & Sullivan Inc. acquired shares worth about $41,000 in the same timeframe. In the first quarter, Alpine Bank Wealth Management and Westend Capital Management LLC purchased new stakes valued at around $50,000 and $51,000, respectively. Notably, Blume Capital Management Inc. increased its holdings by an impressive 105%, now owning 121 shares worth about $57,000 after acquiring an additional 2,536 shares.

Current Market Performance

As of the latest trading session, shares of Invesco QQQ opened at $611.38. The stock has experienced significant fluctuations over the past year, with a low of $402.39 and a high of $613.18. Its 50-day simple moving average stands at $588.70, while the 200-day simple moving average is at $543.16.

Approximately 44.58% of Invesco QQQ’s shares are owned by institutional investors and hedge funds, reflecting a substantial interest in this investment vehicle.

Investment Objectives of Invesco QQQ

Invesco QQQ is a unit investment trust, specifically known as PowerShares QQQ Trust, Series 1. It issues securities that track the performance of the Nasdaq-100 Index. The primary objective of the Trust is to deliver investment results that correspond closely to the price and yield performance of this index. Investors benefit from purchasing units representing undivided interests in the portfolio of securities held by the Trust, which closely mirrors the component securities of the Nasdaq-100 Index.

As the market continues to evolve, investors are advised to stay informed about fluctuations in major funds like Invesco QQQ. The changes in holdings by various investment firms indicate ongoing interest and active management in response to market conditions. For those tracking Invesco QQQ, resources such as HoldingsChannel.com provide insights into the latest filings and insider trades related to this exchange-traded fund.