Bay Capital Advisors LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Bay Capital Advisors LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 22,951 shares of the exchange traded fund’s stock, valued at approximately $11,733,000. Invesco QQQ makes up approximately 9.4% of Bay Capital Advisors LLC’s holdings, making the stock its 2nd biggest holding.

A number of other institutional investors also recently bought and sold shares of QQQ. Potentia Wealth acquired a new position in shares of Invesco QQQ during the fourth quarter worth $438,000. PKS Advisory Services LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth $22,892,000. First American Trust FSB raised its holdings in Invesco QQQ by 23.9% during the fourth quarter. First American Trust FSB now owns 3,571 shares of the exchange traded fund’s stock worth $1,826,000 after purchasing an additional 689 shares in the last quarter. Heritage Wealth Management Inc. CA boosted its holdings in Invesco QQQ by 350.9% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 2,313 shares of the exchange traded fund’s stock worth $1,182,000 after buying an additional 1,800 shares in the last quarter. Finally, TIAA Trust National Association boosted its position in shares of Invesco QQQ by 2.7% in the 4th quarter. TIAA Trust National Association now owns 29,698 shares of the exchange traded fund’s stock valued at $15,183,000 after purchasing an additional 774 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 2.0 %

Shares of NASDAQ:QQQ opened at $490.66 on Tuesday. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81. The company has a market cap of $309.24 billion, a P/E ratio of 30.74 and a beta of 1.11. The company’s fifty day moving average is $511.00 and its two-hundred day moving average is $504.66.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

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.