Parallel Advisors LLC Has $5.35 Million Holdings in Invesco QQQ Trust (QQQ)

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Parallel Advisors LLC reduced its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,688 shares of the exchange traded fund’s stock after selling 2,535 shares during the period. Invesco QQQ Trust accounts for about 0.7% of Parallel Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Parallel Advisors LLC’s holdings in Invesco QQQ Trust were worth $5,351,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QQQ. Westside Investment Management Inc. boosted its position in shares of Invesco QQQ Trust by 30.6% in the fourth quarter. Westside Investment Management Inc. now owns 30,456 shares of the exchange traded fund’s stock worth $4,708,000 after acquiring an additional 7,132 shares during the last quarter. Granite Point Capital Management L.P. boosted its position in shares of Invesco QQQ Trust by 104.4% in the fourth quarter. Granite Point Capital Management L.P. now owns 23,000 shares of the exchange traded fund’s stock worth $3,548,000 after acquiring an additional 543,000 shares during the last quarter. Grandview Asset Management LLC acquired a new stake in shares of Invesco QQQ Trust in the fourth quarter worth approximately $309,000. Canal Capital Management LLC acquired a new stake in shares of Invesco QQQ Trust in the fourth quarter worth approximately $251,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Invesco QQQ Trust by 21.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 99,339 shares of the exchange traded fund’s stock worth $15,324,000 after acquiring an additional 17,499 shares during the last quarter. 42.14% of the stock is currently owned by institutional investors.

QQQ opened at $168.40 on Tuesday. Invesco QQQ Trust has a 1 year low of $143.46 and a 1 year high of $187.53.

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

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About Invesco QQQ Trust

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.

Further Reading: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

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

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