Burke & Herbert Bank & Trust Co. Purchases 1,025 Shares of Invesco QQQ $QQQ

Key Points

• Burke & Herbert Bank & Trust Co. increased its stake in Invesco QQQ by 8.9%, purchasing an additional 1,025 shares during the second quarter, bringing its total holdings to 12,521 shares valued at approximately $6.9 million.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, an increase from the previous dividend of $0.59, to be paid on October 31st.
• Shares of Invesco QQQ traded at $617.10, with a 12-month high of $618.42 and a 12-month low of $402.39.

Burke & Herbert Bank & Trust Co. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,521 shares of the exchange traded fund's stock after buying an additional 1,025 shares during the quarter. Invesco QQQ comprises 1.5% of Burke & Herbert Bank & Trust Co.'s portfolio, making the stock its 13th largest position. Burke & Herbert Bank & Trust Co.'s holdings in Invesco QQQ were worth $6,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Dempsey Capital Management LLC purchased a new position in shares of Invesco QQQ during the second quarter valued at about $30,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Invesco QQQ during the second quarter valued at about $41,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the first quarter valued at about $51,000. Finally, Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $6.52 during midday trading on Friday, hitting $617.10. 47,574,996 shares of the company traded hands, compared to its average volume of 55,791,476. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $618.42. The stock has a 50-day moving average price of $590.61 and a 200 day moving average price of $546.26.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.