Invesco QQQ (NASDAQ:QQQ) Stock Position Raised by Bay Capital Advisors LLC

Bay Capital Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,270 shares of the exchange traded fund's stock after acquiring an additional 1,319 shares during the period. Invesco QQQ accounts for approximately 9.5% of Bay Capital Advisors LLC's portfolio, making the stock its 2nd largest holding. Bay Capital Advisors LLC's holdings in Invesco QQQ were worth $11,381,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $548.09 on Friday. The firm's fifty day moving average price is $509.76 and its 200-day moving average price is $503.88. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $549.99.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Company 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.

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