McIlrath & Eck LLC cut its stake in Invesco QQQ by 13.3% in the fourth quarter, trimming its holdings by 3,614 shares and leaving it with 23,635 shares worth $14,519,000, according to its latest SEC filing. The ETF opened Wednesday at $681.57, just below its 52-week high of $682.77.
The firm’s QQQ position accounted for about 1.3% of its portfolio and ranked as its 24th largest holding. The filing sits alongside a broader pattern of institutional shifts in the fund, with Goodman Advisory Group LLC, Shcp LLC, Measured Wealth Private Client Group LLC and Barnes Dennig Private Wealth Management LLC all adding new positions in earlier quarters, and Rachor Investment Advisory Services LLC opening a new stake in the fourth quarter.
That activity comes as hedge funds and other institutional investors now own 44.58% of Invesco QQQ. The fund also has been trading above both its 50-day simple moving average of $612.32 and its 200-day simple moving average of $614.73, a sign of how far the ETF has run from the levels seen earlier this year.
QQQ also recently paid a quarterly dividend. Shareholders of record on March 23rd received $0.7328 per share, and the dividend was paid March 27th, equal to an annualized payout of $2.93 and a yield of 0.4%.
For investors tracking the fund, the immediate question is whether QQQ can hold near the top of its range after a string of institutional buys and sales that left the ownership picture still heavily tilted toward professional money managers.
