Archer Investment Corp Decreases Position in Invesco QQQ (NASDAQ:QQQ)

Archer Investment Corp trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,047 shares of the exchange traded fund’s stock after selling 24 shares during the quarter. Invesco QQQ makes up about 4.9% of Archer Investment Corp’s investment portfolio, making the stock its 2nd biggest position. Archer Investment Corp’s holdings in Invesco QQQ were worth $15,172,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QQQ. Barclays PLC boosted its stake in Invesco QQQ by 113.5% in the second quarter. Barclays PLC now owns 5,777,618 shares of the exchange traded fund’s stock valued at $2,134,368,000 after acquiring an additional 48,423,350 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Invesco QQQ by 156,045.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock valued at $11,580,806,000 after acquiring an additional 43,463,232 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares during the last quarter. Morgan Stanley raised its holdings in Invesco QQQ by 10.0% in the fourth quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock worth $4,477,628,000 after purchasing an additional 1,533,114 shares during the period. Finally, Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 2,372.7% in the third quarter. Granite Bay Wealth Management LLC now owns 804,357 shares of the exchange traded fund’s stock worth $298,345,000 after purchasing an additional 771,827 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 1.0 %

QQQ traded down $4.41 during mid-day trading on Wednesday, hitting $426.69. The stock had a trading volume of 41,324,442 shares, compared to its average volume of 45,372,695. The stock’s fifty day simple moving average is $438.36 and its 200-day simple moving average is $407.27. Invesco QQQ has a 1-year low of $309.89 and a 1-year high of $449.34.

Invesco QQQ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. The ex-dividend date is Monday, March 18th. This represents a $2.29 annualized dividend and a yield of 0.54%.

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.