Invesco QQQ (NASDAQ:QQQ) is Archer Investment Corp’s 2nd Largest Position

Archer Investment Corp boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,980 shares of the exchange traded fund’s stock after acquiring an additional 2,377 shares during the period. Invesco QQQ comprises about 6.3% of Archer Investment Corp’s holdings, making the stock its 2nd biggest holding. Archer Investment Corp’s holdings in Invesco QQQ were worth $23,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hoese & Co LLP boosted its holdings in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC lifted its position in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares in the last quarter. BNP Paribas purchased a new stake in Invesco QQQ in the 3rd quarter valued at $62,000. Brooklyn Investment Group acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $69,000. Finally, Pacifica Partners Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter worth $73,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $529.60 on Friday. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $539.15. The company’s 50-day moving average price is $520.51 and its 200-day moving average price is $495.05.

Invesco QQQ Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 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.