Bay Capital Advisors LLC Acquires Shares of 22,951 Invesco QQQ (NASDAQ:QQQ)

Bay Capital Advisors LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 22,951 shares of the exchange traded fund's stock, valued at approximately $11,733,000. Invesco QQQ accounts for 9.4% of Bay Capital Advisors LLC's holdings, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its holdings in shares of Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund's stock worth $8,477,000 after acquiring an additional 46 shares during the last quarter. Davis R M Inc. raised its stake in shares of Invesco QQQ by 3.2% in the third quarter. Davis R M Inc. now owns 3,789 shares of the exchange traded fund's stock worth $1,849,000 after purchasing an additional 118 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Invesco QQQ by 95.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,145 shares of the exchange traded fund's stock valued at $559,000 after buying an additional 558 shares during the last quarter. Alliance Wealth Management Group boosted its position in shares of Invesco QQQ by 30.2% during the third quarter. Alliance Wealth Management Group now owns 2,562 shares of the exchange traded fund's stock valued at $1,250,000 after buying an additional 595 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in Invesco QQQ by 506.7% during the third quarter. Truvestments Capital LLC now owns 35,646 shares of the exchange traded fund's stock worth $17,398,000 after buying an additional 29,771 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

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Invesco QQQ Stock Down 2.0 %

NASDAQ:QQQ traded down $9.45 during trading hours on Friday, hitting $472.18. 17,978,530 shares of the company traded hands, compared to its average volume of 34,799,753. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81. The company has a market cap of $297.59 billion, a PE ratio of 30.74 and a beta of 1.11. The firm's 50-day simple moving average is $509.49 and its 200-day simple moving average is $504.67.

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 issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is 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.