Arrow Financial Corp Increases Stake in Invesco QQQ

Arrow Financial Corp has recently enhanced its investment in Invesco QQQ (NASDAQ:QQQ - Free Report), increasing its stake by 7.2% during the third quarter, as per the latest SEC filing. The institutional investor now holds a total of 141,366 shares of the exchange-traded fund (ETF) after acquiring an additional 9,516 shares in this period. Invesco QQQ constitutes about 6.4% of Arrow Financial Corp's overall portfolio, making it their second-largest holding. At the end of the latest reporting period, Arrow Financial's holdings in Invesco QQQ were valued at approximately $68,997,000.

Other Institutional Investors' Activity

In addition to Arrow Financial Corp, other institutional investors and hedge funds have recently adjusted their positions in Invesco QQQ. For instance, Northeast Investment Management raised its stake by 0.6% during the third quarter, owning 3,476 shares valued at $1,697,000 after acquiring 20 additional shares. Similarly, Prospect Financial Services LLC increased its holdings by 0.3% in the second quarter, now possessing 6,385 shares valued at $3,059,000 after buying an additional 21 shares. Skyline Advisors Inc. grew its investment by 5.0% during the same quarter, acquiring 21 additional shares for a total of 441 shares worth $215,000. Madden Advisory Services Inc. also raised its stake by 0.9% in the third quarter, owning 2,487 shares valued at $1,214,000 after gaining 21 additional shares. Lastly, Sweeney & Michel LLC increased their holdings by 4.0% in the previous quarter, now having 575 shares worth $286,000. It is noteworthy that hedge funds and other institutional investors collectively own 44.58% of QQQ's stock.

Current Performance of Invesco QQQ

As for the current performance of Invesco QQQ, shares started trading at $514.14. The ETF's 50-day moving average stands at $484.62, while the two-hundred day moving average is $471.30. Throughout the past year, Invesco QQQ has seen a low of $369.57 and a high of $514.92.

Dividend Information

The company recently declared a quarterly dividend that was disbursed on Thursday, October 31st. Investors who were on record as of Monday, September 23rd, received a dividend of $0.677 per share. This represents a total annualized dividend of $2.71 and results in a yield of 0.53%.

About Invesco QQQ

The PowerShares QQQ Trust, Series 1, known as Invesco QQQ, is a unit investment trust that offers securities designed to track the performance of the Nasdaq-100 Index. The trust's primary objective is to provide investment results that closely correspond to the price and yield of this index. Investors can purchase units of beneficial interest that represent a proportionate claim on the securities held within the trust, reflecting the component securities of the Nasdaq-100 Index.

Conclusion

With numerous institutional investors showing interest in Invesco QQQ, it remains a significant player in the ETF market. Investors will want to stay informed about updates and changes in holdings to gauge the potential and performance of this investment option.

investment, ETFs, stocks