Archer Investment Corp Buys 4,025 Shares of Invesco QQQ (NASDAQ:QQQ)

Archer Investment Corp boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,603 shares of the exchange traded fund’s stock after buying an additional 4,025 shares during the period. Invesco QQQ makes up approximately 5.7% of Archer Investment Corp’s holdings, making the stock its 2nd biggest holding. Archer Investment Corp’s holdings in Invesco QQQ were worth $21,281,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC raised its stake in Invesco QQQ by 572.2% in the second 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. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded down $7.52 during midday trading on Friday, reaching $501.17. The company’s stock had a trading volume of 8,122,479 shares, compared to its average volume of 38,048,305. The business has a 50-day moving average price of $488.38 and a 200-day moving average price of $473.67. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco QQQ Company Profile

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.