Elite Financial Inc. Invests $1.54 Million in Invesco QQQ (NASDAQ:QQQ)

Elite Financial Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,014 shares of the exchange traded fund's stock, valued at approximately $1,540,000. Invesco QQQ accounts for 0.8% of Elite Financial Inc.'s investment portfolio, making the stock its 17th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Consulting LLC raised its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after purchasing an additional 19 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after buying an additional 20 shares in the last quarter. RAM Investment Partners LLC raised its holdings in shares of Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock valued at $597,000 after acquiring an additional 20 shares during the last quarter. HighMark Wealth Management LLC raised its holdings in shares of Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after acquiring an additional 20 shares during the last quarter. Finally, Providence First Trust Co lifted its position in shares of Invesco QQQ by 3.0% in the fourth quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.4%

QQQ stock traded down $2.31 during midday trading on Wednesday, reaching $518.91. The stock had a trading volume of 44,971,575 shares, compared to its average volume of 37,485,008. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company's fifty day simple moving average is $476.24 and its 200 day simple moving average is $500.91. The company has a market cap of $325.17 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.