Ellis Investment Partners LLC Has $24.06 Million Holdings in Invesco QQQ $QQQ

Ellis Investment Partners LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.4% in the second quarter, HoldingsChannel reports. The firm owned 43,622 shares of the exchange traded fund’s stock after purchasing an additional 169 shares during the quarter. Invesco QQQ accounts for about 4.7% of Ellis Investment Partners LLC’s holdings, making the stock its 4th largest holding. Ellis Investment Partners LLC’s holdings in Invesco QQQ were worth $24,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ in the second quarter valued at about $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ in the first quarter valued at about $51,000. Blume Capital Management Inc. boosted its position in shares of Invesco QQQ by 105.0% in the first 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 boosted its position in shares of Invesco QQQ by 3,000.0% in the first 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. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $602.01 on Tuesday. The firm has a 50-day moving average of $584.64 and a 200-day moving average of $537.61. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.