ELCO Management Co. LLC Invests $215,000 in Invesco QQQ $QQQ

ELCO Management Co. LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 390 shares of the exchange traded fund’s stock, valued at approximately $215,000.

Several other large investors also recently made changes to their positions in QQQ. Morgan Dempsey Capital Management LLC acquired a new stake in Invesco QQQ during the 2nd quarter valued at $30,000. Marshall & Sullivan Inc. WA acquired a new stake in Invesco QQQ during the 2nd quarter valued at $41,000. Moser Wealth Advisors LLC grew its holdings in Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 93 shares in the last quarter. Blume Capital Management Inc. grew its holdings in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its holdings in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.8%

QQQ opened at $632.92 on Wednesday. The company has a fifty day simple moving average of $592.90 and a 200 day simple moving average of $550.17. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $634.68.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

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.