Elevation Capital Advisory LLC Makes New $10.31 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Elevation Capital Advisory LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the second quarter, HoldingsChannel reports. The fund acquired 21,516 shares of the exchange traded fund’s stock, valued at approximately $10,309,000. Invesco QQQ makes up approximately 4.7% of Elevation Capital Advisory LLC’s holdings, making the stock its 5th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Prospect Financial Services LLC increased its stake in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after buying an additional 21 shares during the period. Sweeney & Michel LLC increased its position in Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after purchasing an additional 22 shares during the period. Family Firm Inc. increased its position in Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after purchasing an additional 22 shares during the period. Merriman Wealth Management LLC raised its holdings in shares of Invesco QQQ by 0.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after purchasing an additional 23 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $486.75 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The company’s 50 day moving average is $468.10 and its 200 day moving average is $460.07.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

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.