Darrow Company Inc. Buys 4,055 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Darrow Company Inc. increased its holdings in Invesco QQQ by 10.3%, acquiring an additional 4,055 shares and making the ETF its largest investment, valued at approximately $20.3 million.
• Invesco QQQ reported a quarterly dividend of $0.5911 per share, resulting in an annualized yield of 0.4%.
• The stock of Invesco QQQ is currently trading at $574.55, with a 1-year high of $574.77 and a low of $402.39.

Darrow Company Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,328 shares of the exchange traded fund's stock after buying an additional 4,055 shares during the period. Invesco QQQ comprises 11.3% of Darrow Company Inc.'s investment portfolio, making the stock its largest holding. Darrow Company Inc.'s holdings in Invesco QQQ were worth $20,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the first quarter valued at about $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ in the fourth quarter worth about $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.9%

NASDAQ QQQ opened at $574.55 on Friday. The company has a fifty day simple moving average of $549.00 and a 200 day simple moving average of $512.37. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.77.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 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.

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