M.E. Allison & CO. Inc. Buys 69 Shares of Invesco QQQ $QQQ

M.E. Allison & CO. Inc. increased its stake in Invesco QQQ (NASDAQ:QQQ) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,709 shares of the exchange traded fund’s stock after purchasing an additional 69 shares during the quarter. M.E. Allison & CO. Inc.’s holdings in Invesco QQQ were worth $943,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ in the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the 1st quarter valued at approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $51,000. Blume Capital Management Inc. raised 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 acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC raised 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 acquiring an additional 120 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $602.01 on Tuesday. The company’s fifty day simple moving average is $584.64 and its two-hundred day simple moving average is $537.61. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 0.5%. 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.

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.