Invesco QQQ $QQQ is Elevation Capital Advisory LLC's 2nd Largest Position

Key Points

• Elevation Capital Advisory LLC increased its stake in Invesco QQQ by 147.6%, making it their second largest position, with holdings valued at approximately $17.8 million.
• Invesco QQQ recently announced a dividend increase, paying $0.694 per share on October 31, up from the previous dividend of $0.59.
• The company’s stock is currently trading at approximately $603.93, with a one-year high of $613.18 and a low of $402.39.

Elevation Capital Advisory LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 147.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,269 shares of the exchange traded fund's stock after purchasing an additional 19,238 shares during the period. Invesco QQQ comprises about 7.1% of Elevation Capital Advisory LLC's investment portfolio, making the stock its 2nd biggest holding. Elevation Capital Advisory LLC's holdings in Invesco QQQ were worth $17,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Invesco QQQ during the second quarter valued at $41,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth $51,000. Finally, Blume Capital Management Inc. lifted its stake in shares of Invesco QQQ by 105.0% in 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 during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.7%

Shares of QQQ opened at $603.93 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18. The company's fifty day moving average price is $587.30 and its 200 day moving average price is $541.36.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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.

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