UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
AMERICAN ECOLOGY CORP
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
025533407
(CUSIP Number)
12/31/2006
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 025533407
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1) Names of Reporting Persons.
I.R.S. Identification Nos. of Above Persons (entities only)
QUAKER INVESTMENT TRUST
FBO QUAKER STRATEGIC GROWTH FUND
TAX ID#56-6489214
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2) Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
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3) SEC Use Only
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4) Citizenship or Place of Organization. MASSACHUSETTS
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Number of Shares 5) Sole Voting Power 909,595
Beneficially -----------------------------------------------
Owned by Each 6) Shared Voting Power 0
Reporting -----------------------------------------------
Person With 7) Sole Dispositive Power 909,595
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8) Shared Dispositive Power 0
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9) Aggregate Amount Beneficially Owned by Each Reporting Person. 909,595
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10) Check if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions) [ ]
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11) Percent of Class Represented by Amount in Item 9. 5.01%
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12) Type of Reporting Person (See Instructions). IV
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ITEM 1.
(A) NAME OF ISSUER. AMERICAN ECOLOGY CORP.
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICE.
300 E MALLARD, SUITE 300
BOISE, ID 83706
ITEM 2.
(A) NAME OF PERSONS FILING. QUAKER INVESTMENT TRUST
JEFFRY H KING, SR.
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR IF NONE, RESIDENCE
309 TECHNOLOGY DRIVE
MALVERN, PA 19355
(C) CITIZENSHIP
QUAKER INVESTMENT TRUST: MASSACHUSETTS
JERRFY H KING, SR: UNITED STATES
(D) TITLE OF CLASS OF SECURITIES
COMMON STOCK
(E) CUSIP NUMBER
025533407
ITEM 3.
If this statement is filed pursuant to rule 240.13d- 1(b), or 240.13d-2(b) or
(c), check whether the person filing is a:
(a) ___ Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) ___ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) ___ Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) _X_ Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) ___ An investment adviser in accordance with 240.13d-
1(b)(1)(ii)(E).
(f) ___ An employee benefit plan or endowment fund in accordance with
240.13d-1(b)(1)(ii)(F).
(g) ___ A parent holding company or control person in accordance with
240.13d-1(b)(1)(ii)(G)
(h) ___ A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
(i) ___ A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment Company
Act of 1940 (15 U.S.C. 80a-3).
(j) ___ Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
QUAKER INVESTMENT TRUST
FBO QUAKER STRATEGIC GROWTH FUND: 909,595
ADVISED BY: DG CAPITAL MANAGEMENT, INC.
MANU P. DAFTARY
(b) Percent of class:
QUAKER INVESTMENT TRUST
FBO QUAKER STRATEGIC GROWTH FUND: 5.01%
ADVISED BY: DG CAPITAL MANAGEMENT, INC.
MANU P. DAFTARY
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
QUAKER INVESTMENT TRUST
FBO QUAKER STRATEGIC GROWTH FUND: 909,595
ADVISED BY: DG CAPITAL MANAGEMENT, INC.
MANU P. DAFTARY
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
QUAKER INVESTMENT TRUST
FBO QUAKER STRATEGIC GROWTH FUND: 909,595
ADVISED BY: DG CAPITAL MANAGEMENT, INC.
MANU P. DAFTARY
(iv) Shared power to dispose or to direct the disposition of: 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: NOT APPLICABLE
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following |_|.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Various persons, as investment advisory clients of DG Capital Management, Inc.,
have the right to receive or the power to direct the receipt of dividends from,
or the proceeds from the sale of, the common stock of the Issuer. To the
knowledge of DG Capital Management, Inc., no one such person's interest in the
common stock of the Issuer is more than five percent of the total outstanding
common stock of the Issuer other than the Quaker Strategic Growth Fund.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
NOT APPLICABLE
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
NOT APPLICABLE
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
NOT APPLICABLE
ITEM 10. CERTIFICATION.
By signing below we certify that, to the best of our knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
Dated: February 21, 2007
By: /s/ Jeffry H. King
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Name: JEFFRY H. KING, SR.
Title: CEO