ORBA Wealth Advisors L.L.C. Has $4.60 Million Position in Invesco QQQ (NASDAQ:QQQ)

ORBA Wealth Advisors L.L.C. raised its position in Invesco QQQ (NASDAQ:QQQ) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,363 shares of the exchange traded fund’s stock after acquiring an additional 659 shares during the quarter. Invesco QQQ makes up about 2.5% of ORBA Wealth Advisors L.L.C.’s investment portfolio, making the stock its 13th largest holding. ORBA Wealth Advisors L.L.C.’s holdings in Invesco QQQ were worth $4,601,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Summit X LLC grew its stake in Invesco QQQ by 0.4% during the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after acquiring an additional 24 shares in the last quarter. IMA Wealth Inc. grew its stake in Invesco QQQ by 1.3% during the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after acquiring an additional 25 shares in the last quarter. S.A. Mason LLC grew its stake in Invesco QQQ by 1.5% during the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after acquiring an additional 25 shares in the last quarter. Lauterbach Financial Advisors LLC grew its stake in Invesco QQQ by 0.4% during the fourth quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after acquiring an additional 25 shares in the last quarter. Finally, Cedrus LLC grew its stake in Invesco QQQ by 1.7% during the fourth quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $5.12 during mid-day trading on Friday, hitting $496.16. 28,495,936 shares of the stock traded hands, compared to its average volume of 25,387,020. The business’s 50-day moving average price is $461.28 and its 200 day moving average price is $439.25. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $496.60.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.61%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.