Carbahal Olsen Financial Services Group LLC Takes $15.53 Million Position in Invesco QQQ (NASDAQ:QQQ)

Carbahal Olsen Financial Services Group LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,367 shares of the exchange traded fund's stock, valued at approximately $15,525,000. Invesco QQQ accounts for approximately 14.3% of Carbahal Olsen Financial Services Group LLC's portfolio, making the stock its 2nd biggest position.

A number of other hedge funds also recently made changes to their positions in QQQ. PayPay Securities Corp boosted its holdings in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth about $35,000. Roxbury Financial LLC bought a new position in Invesco QQQ in the 4th quarter valued at about $37,000. Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Finally, Midwest Capital Advisors LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $51,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $12.34 during mid-day trading on Wednesday, reaching $456.82. 38,885,083 shares of the stock were exchanged, compared to its average volume of 36,538,026. The company has a 50 day moving average price of $478.81 and a two-hundred day moving average price of $500.56. The stock has a market capitalization of $292.32 billion, a PE ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

Invesco QQQ Cuts Dividend

The firm 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 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.