McIlrath & Eck LLC Purchases 2,767 Shares of Invesco QQQ (NASDAQ:QQQ)

McIlrath & Eck LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,218 shares of the exchange traded fund’s stock after acquiring an additional 2,767 shares during the quarter. Invesco QQQ accounts for about 1.3% of McIlrath & Eck LLC’s holdings, making the stock its 21st largest position. McIlrath & Eck LLC’s holdings in Invesco QQQ were worth $9,868,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Socha Financial Group LLC increased its holdings in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares in the last quarter. Archer Investment Corp boosted its holdings in Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after acquiring an additional 4,025 shares during the last quarter. Bank Hapoalim BM increased its position in Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares during the period. Garden State Investment Advisory Services LLC raised its holdings in Invesco QQQ by 20.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock worth $16,191,000 after purchasing an additional 5,673 shares during the last quarter. Finally, Marco Investment Management LLC lifted its position in Invesco QQQ by 48.1% during the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.3 %

Shares of NASDAQ QQQ opened at $520.60 on Wednesday. The firm’s 50-day moving average is $500.28 and its 200-day moving average is $482.21. Invesco QQQ has a 1 year low of $391.53 and a 1 year high of $526.72.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd.

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.