Brown Brothers Harriman & Co. Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Brown Brothers Harriman & Co. raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,592 shares of the exchange traded fund’s stock after acquiring an additional 3,728 shares during the period. Brown Brothers Harriman & Co.’s holdings in Invesco QQQ were worth $7,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RiverFront Investment Group LLC boosted its stake in shares of Invesco QQQ by 9.4% during the fourth quarter. RiverFront Investment Group LLC now owns 166,784 shares of the exchange traded fund’s stock valued at $85,265,000 after purchasing an additional 14,377 shares during the period. Pamplona Capital Management LLC bought a new stake in Invesco QQQ during the 4th quarter valued at about $1,168,000. NBZ Investment Advisors LLC bought a new stake in Invesco QQQ during the 4th quarter valued at about $1,608,000. Vertex Planning Partners LLC boosted its position in Invesco QQQ by 3.5% in the 4th quarter. Vertex Planning Partners LLC now owns 4,289 shares of the exchange traded fund’s stock valued at $2,193,000 after buying an additional 146 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in Invesco QQQ by 21.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 111,377 shares of the exchange traded fund’s stock worth $56,939,000 after acquiring an additional 19,758 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $468.94 on Friday. The firm has a market cap of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. The firm’s 50 day simple moving average is $508.43 and its 200-day simple moving average is $505.09. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date 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.