Arbor Trust Wealth Advisors LLC Invests $306,000 in Invesco QQQ (NASDAQ:QQQ)

Arbor Trust Wealth Advisors LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 747 shares of the exchange traded fund’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Friedenthal Financial bought a new stake in Invesco QQQ in the 4th quarter valued at $41,000. Bear Mountain Capital Inc. bought a new stake in Invesco QQQ in the 4th quarter valued at $42,000. Core Wealth Advisors Inc. boosted its stake in Invesco QQQ by 33.3% in the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after purchasing an additional 30 shares during the period. Russell Investments Group Ltd. bought a new stake in Invesco QQQ in the 2nd quarter valued at $44,000. Finally, Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after acquiring an additional 3,500 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $0.04 during trading on Tuesday, reaching $431.10. 47,490,572 shares of the company traded hands, compared to its average volume of 45,458,633. The company’s 50 day moving average is $438.29 and its two-hundred day moving average is $406.76. Invesco QQQ has a 52 week low of $309.89 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.53%.

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.