Orion Portfolio Solutions LLC Has $56.94 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Orion Portfolio Solutions LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 21.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,377 shares of the exchange traded fund’s stock after purchasing an additional 19,758 shares during the period. Invesco QQQ accounts for approximately 0.6% of Orion Portfolio Solutions LLC’s investment portfolio, making the stock its 27th biggest position. Orion Portfolio Solutions LLC’s holdings in Invesco QQQ were worth $56,939,000 as of its most recent SEC filing.

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

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $481.62 on Friday. The company has a 50 day simple moving average of $509.49 and a two-hundred day simple moving average of $504.67. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The company has a market capitalization of $303.54 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared 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 of this dividend 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.