Invesco QQQ (NASDAQ:QQQ) Stake Raised by Archer Investment Corp

by · The Markets Daily

Archer Investment Corp raised its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,254 shares of the exchange traded fund’s stock after purchasing an additional 1,274 shares during the quarter. Invesco QQQ accounts for 5.7% of Archer Investment Corp’s holdings, making the stock its 2nd largest holding. Archer Investment Corp’s holdings in Invesco QQQ were worth $22,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $1.33 during trading hours on Friday, reaching $560.47. 7,142,448 shares of the company’s stock were exchanged, compared to its average volume of 39,380,548. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $563.36. The company’s 50 day moving average is $532.92 and its two-hundred day moving average is $506.84.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

About Invesco QQQ

(Free Report)

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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