Elequin Capital LP Makes New $91,000 Investment in Invesco QQQ (NASDAQ:QQQ)

Elequin Capital LP bought a new position in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 178 shares of the exchange traded fund’s stock, valued at approximately $91,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stephens Consulting LLC boosted its holdings in shares of Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after acquiring an additional 19 shares during the last quarter. Hoese & Co LLP raised its stake 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 valued at $42,000 after buying an additional 20 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after buying an additional 20 shares during the period. RAM Investment Partners LLC boosted its stake in shares of Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after buying an additional 20 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in shares of Invesco QQQ by 5.2% in the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund’s stock worth $208,000 after buying an additional 20 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.3%

Shares of NASDAQ:QQQ opened at $520.27 on Wednesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The business has a 50 day moving average of $472.85 and a two-hundred day moving average of $500.53. The company has a market capitalization of $326.03 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. 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.