Ballast Inc. Buys Shares of 677 Invesco QQQ (NASDAQ:QQQ)

Ballast Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 677 shares of the exchange traded fund’s stock, valued at approximately $330,000.

Other large investors also recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its stake in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $491.25 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The company has a 50-day moving average of $476.80 and a 200-day moving average of $464.48.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.