Arrowroot Family Office LLC Has $3.85 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Arrowroot Family Office LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 7,880 shares of the exchange traded fund’s stock after selling 141 shares during the period. Invesco QQQ makes up approximately 2.2% of Arrowroot Family Office LLC’s investment portfolio, making the stock its 11th biggest position. Arrowroot Family Office LLC’s holdings in Invesco QQQ were worth $3,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter valued at $30,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the last quarter. PFG Private Wealth Management LLC boosted its stake in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares in the last quarter. Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the last quarter. Finally, BNP Paribas acquired a new position in Invesco QQQ during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $509.74 on Monday. The firm has a 50 day simple moving average of $496.13 and a 200 day simple moving average of $479.38. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was 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.