Allen Investment Management LLC Grows Position in Invesco QQQ Trust (QQQ)

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Allen Investment Management LLC boosted its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 5,927.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,585 shares of the exchange traded fund’s stock after purchasing an additional 124,485 shares during the period. Invesco QQQ Trust accounts for approximately 0.8% of Allen Investment Management LLC’s portfolio, making the stock its 29th biggest position. Allen Investment Management LLC’s holdings in Invesco QQQ Trust were worth $19,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Blue Fin Capital Inc. lifted its position in shares of Invesco QQQ Trust by 1.6% in the fourth quarter. Blue Fin Capital Inc. now owns 4,571 shares of the exchange traded fund’s stock worth $705,000 after buying an additional 70 shares during the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Invesco QQQ Trust by 10.7% in the fourth quarter. Duncker Streett & Co. Inc. now owns 777 shares of the exchange traded fund’s stock worth $120,000 after buying an additional 75 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of Invesco QQQ Trust by 1.3% in the fourth quarter. Leavell Investment Management Inc. now owns 5,912 shares of the exchange traded fund’s stock worth $912,000 after buying an additional 75 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of Invesco QQQ Trust by 25.0% in the fourth quarter. LS Investment Advisors LLC now owns 375 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 75 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its position in shares of Invesco QQQ Trust by 1.6% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 4,709 shares of the exchange traded fund’s stock worth $726,000 after buying an additional 76 shares during the last quarter. 42.14% of the stock is owned by hedge funds and other institutional investors.

Shares of QQQ opened at $171.01 on Thursday. Invesco QQQ Trust has a 12-month low of $143.46 and a 12-month high of $187.53.

Separately, Bank of America cut Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research report on Monday, November 5th.

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Invesco QQQ Trust Company Profile

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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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