McIlrath & Eck LLC Acquires 3,336 Shares of Invesco QQQ $QQQ

Key Points

• McIlrath & Eck LLC increased its holdings in Invesco QQQ by 16.3%, acquiring an additional 3,336 shares during the first quarter, bringing its total to 23,756 shares valued at approximately $11.14 million.
• Other institutional investors are also increasing their stakes in Invesco QQQ, with notable purchases from Alpine Bank Wealth Management and Westend Capital Management.
• Invesco QQQ's recent quarterly dividend was declared at $0.5911, representing an annual yield of 0.4% and reflecting the company's ongoing investment strategy.

McIlrath & Eck LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,756 shares of the exchange traded fund's stock after buying an additional 3,336 shares during the period. Invesco QQQ accounts for approximately 1.4% of McIlrath & Eck LLC's holdings, making the stock its 22nd biggest position. McIlrath & Eck LLC's holdings in Invesco QQQ were worth $11,140,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Blume Capital Management Inc. boosted its holdings in shares of 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 buying an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC boosted its holdings in shares of 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 buying an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC bought a new position in Invesco QQQ in the 4th quarter worth about $67,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.5%

Shares of Invesco QQQ stock opened at $578.87 on Tuesday. The firm's 50-day moving average is $565.79 and its 200 day moving average is $518.70. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $583.32.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

Invesco QQQ 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.