Gateway Advisory LLC Sells 7,346 Shares of Invesco QQQ (NASDAQ:QQQ)

Gateway Advisory LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 89.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 828 shares of the exchange traded fund’s stock after selling 7,346 shares during the period. Gateway Advisory LLC’s holdings in Invesco QQQ were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prospect Financial Services LLC grew its stake in Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Sweeney & Michel LLC grew its position in shares of Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 22 shares during the period. Family Firm Inc. increased its stake in shares of Invesco QQQ by 3.1% in the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after acquiring an additional 22 shares in the last quarter. Merriman Wealth Management LLC increased its stake in shares of Invesco QQQ by 0.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock worth $2,420,000 after acquiring an additional 23 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $483.04 on Tuesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The firm’s 50-day simple moving average is $467.81 and its two-hundred day simple moving average is $458.89.

Invesco QQQ 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.