Burney Co. Acquires 728 Shares of Invesco QQQ (NASDAQ:QQQ)

Burney Co. raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 18.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,595 shares of the exchange traded fund’s stock after acquiring an additional 728 shares during the period. Burney Co.’s holdings in Invesco QQQ were worth $2,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the first quarter valued at about $29,000. Legacy Bridge LLC raised its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $35,000. Finally, Robinson Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $40,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ traded up $0.34 on Thursday, reaching $471.69. 34,123,013 shares of the stock traded hands, compared to its average volume of 40,476,789. The stock’s 50-day moving average price is $474.72 and its 200-day moving average price is $454.35. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a $0.7615 dividend. This represents a $3.05 annualized dividend and a yield of 0.65%. The ex-dividend date was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

About Invesco QQQ

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.