Invesco QQQ Trust, an exchange-traded fund (ETF) tracking the Nasdaq 100, has experienced an impressive surge, gaining 35% over the past year. This remarkable performance has caught the attention of investors, but it is crucial to understand the reasons behind this surge in order to make informed decisions.
One factor contributing to the surge in Invesco QQQ Trust is the increased stake held by Commonwealth Equity Services LLC. During the second quarter, Commonwealth Equity Services LLC raised its stake in the ETF by 9.7%. This move indicates growing confidence in the fund's potential and could have attracted other investors.
Additionally, the market dynamics have been favorable for Invesco QQQ Trust. While the past few years have been challenging, November has shown a different trend. Many investors have turned to the Nasdaq 100, using Invesco QQQ Trust as a way to capitalize on the market's positive momentum.