Armis Advisers LLC Invests $12.24 Million in Invesco QQQ (NASDAQ:QQQ)

Armis Advisers LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,936 shares of the exchange traded fund's stock, valued at approximately $12,237,000. Invesco QQQ accounts for about 1.5% of Armis Advisers LLC's investment portfolio, making the stock its 16th biggest position.

A number of other large investors have also recently made changes to their positions in the company. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $51,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.1%

NASDAQ QQQ traded up $0.55 during mid-day trading on Thursday, hitting $519.46. The stock had a trading volume of 40,639,482 shares, compared to its average volume of 37,503,935. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a market cap of $325.52 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company has a 50 day simple moving average of $477.01 and a 200 day simple moving average of $501.03.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.