The Invesco QQQ Trust (NASDAQ: QQQ) saw increased positions from prominent hedge fund managers in Q1 2023. Ken Griffin of Citadel Advisors added 2.2 million shares, making it the third-largest position for the hedge fund, while Israel Englander of Millennium Management increased his stake by 474,300 shares, ranking it among his 25 largest positions. Steven Cohen of Point72 Asset Management added a smaller 7,950 shares.
Over the past two decades, the Invesco QQQ Trust has advanced 1,290%, equating to a compounded annual growth rate of 14%. Assuming more conservative future returns of 12.9%, a monthly investment of $400 could grow to approximately $384,000 over 20 years. The ETF has a modest expense ratio of 0.20% and is heavily weighted toward the technology sector, often experiencing significant volatility.
As of now, the top holdings in the fund include Microsoft (8.8%), Nvidia (8.8%), and Apple (7.3%). The fund has gained attention for its potential to benefit from the increasing demand for artificial intelligence technologies.
