Synovus Financial Corp Buys 1,190 Shares of Invesco QQQ $QQQ

Key Points

• Synovus Financial Corp increased its stake in Invesco QQQ by 2.7%, owning a total of 44,481 shares valued at approximately $20.86 million by the end of the latest quarter.
• Several institutional investors, including Eagle Capital Management and Kovitz Investment Group Partners, have also made significant adjustments to their holdings in Invesco QQQ.
• Invesco QQQ stock is currently priced at $571.97, with a notable 52-week high of $583.32, and has recently cut its dividend to an annualized yield of 0.4%.

Synovus Financial Corp boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,481 shares of the exchange traded fund's stock after purchasing an additional 1,190 shares during the period. Synovus Financial Corp's holdings in Invesco QQQ were worth $20,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Eagle Capital Management LLC lifted its stake in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after acquiring an additional 176 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Invesco QQQ during the fourth quarter valued at $610,000. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Invesco QQQ by 31.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 65,304 shares of the exchange traded fund's stock valued at $33,386,000 after acquiring an additional 15,794 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.5%

QQQ stock opened at $571.97 on Friday. The company has a fifty day moving average price of $557.92 and a 200-day moving average price of $515.74. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $583.32.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.

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