Burke & Herbert Bank & Trust Co. Has $5.34 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Burke & Herbert Bank & Trust Co. lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 2,488.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,948 shares of the exchange traded fund’s stock after acquiring an additional 10,525 shares during the quarter. Invesco QQQ makes up approximately 1.2% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 18th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Invesco QQQ were worth $5,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Trust Co. of Virginia VA bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $306,000. Grimes & Company Inc. raised its position in shares of Invesco QQQ by 4.1% during the 1st quarter. Grimes & Company Inc. now owns 5,206 shares of the exchange traded fund’s stock valued at $2,311,000 after acquiring an additional 203 shares during the last quarter. Home Federal Bank of Tennessee increased its position in shares of Invesco QQQ by 10.8% in the 1st quarter. Home Federal Bank of Tennessee now owns 4,563 shares of the exchange traded fund’s stock valued at $2,026,000 after buying an additional 443 shares in the last quarter. CRA Financial Services LLC increased its position in shares of Invesco QQQ by 4.4% in the 1st quarter. CRA Financial Services LLC now owns 36,604 shares of the exchange traded fund’s stock valued at $16,252,000 after buying an additional 1,551 shares in the last quarter. Finally, Winthrop Advisory Group LLC increased its position in shares of Invesco QQQ by 5.1% in the 1st quarter. Winthrop Advisory Group LLC now owns 106,758 shares of the exchange traded fund’s stock valued at $47,463,000 after buying an additional 5,217 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $495.32 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The company has a fifty day simple moving average of $480.10 and a 200 day simple moving average of $466.30.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.