Bay Capital Advisors LLC Invests $11.73 Million in Invesco QQQ (NASDAQ:QQQ)

Bay Capital Advisors LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,951 shares of the exchange traded fund’s stock, valued at approximately $11,733,000. Invesco QQQ makes up about 9.4% of Bay Capital Advisors LLC’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds also recently added to or reduced their stakes in QQQ. PayPay Securities Corp raised its position in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at about $37,000. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $51,000. Finally, BNP Paribas purchased a new position in Invesco QQQ in the third quarter worth approximately $62,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $490.66 on Tuesday. The firm’s 50 day moving average price is $511.00 and its 200-day moving average price is $504.66. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81. The firm has a market cap of $309.24 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.