BridgePort Financial Solutions LLC Takes $716,000 Position in Invesco QQQ (NASDAQ:QQQ)

BridgePort Financial Solutions LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,431 shares of the exchange traded fund's stock, valued at approximately $716,000.

Several other hedge funds have also recently made changes to their positions in the business. PayPay Securities Corp grew its holdings in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ during the 4th quarter valued at about $36,000. Roxbury Financial LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $51,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ stock traded up $1.02 during mid-day trading on Thursday, reaching $519.93. The company had a trading volume of 58,410,957 shares, compared to its average volume of 37,568,507. The company has a market capitalization of $325.81 billion, a PE ratio of 30.62 and a beta of 1.11. The firm has a 50 day moving average of $477.01 and a 200 day moving average of $501.03. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Invesco QQQ Profile

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.