Orrstown Financial Services Inc. Buys New Holdings in Invesco QQQ $QQQ

Key Points

• Orrstown Financial Services Inc. purchased 757 shares of Invesco QQQ in the 2nd quarter, valued at approximately $418,000.
• Several other investors, including Marshall & Sullivan Inc. and Alpine Bank Wealth Management, also acquired stakes in Invesco QQQ during the same period.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, representing a dividend yield of 0.4%.

Orrstown Financial Services Inc. bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 757 shares of the exchange traded fund's stock, valued at approximately $418,000.

A number of other institutional investors also recently bought and sold shares of the company. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth about $1,018,000. Sendero Wealth Management LLC bought a new position in shares of Invesco QQQ in the first quarter worth about $273,000. Griffith & Werner Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $583,000. GSG Advisors LLC raised its stake in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after buying an additional 585 shares during the period. Finally, Amundi raised its stake in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after buying an additional 6,600 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.7%

Shares of NASDAQ QQQ traded down $4.39 during trading on Tuesday, hitting $597.81. The company had a trading volume of 44,149,699 shares, compared to its average volume of 45,618,445. The stock has a 50 day simple moving average of $573.11 and a 200 day simple moving average of $524.79. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%.

About Invesco QQQ

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.