Invesco QQQ (NASDAQ:QQQ) Position Increased by Global Wealth Management LLC

Global Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,271 shares of the exchange traded fund’s stock after acquiring an additional 268 shares during the period. Invesco QQQ comprises 3.3% of Global Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Global Wealth Management LLC’s holdings in Invesco QQQ were worth $5,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PayPay Securities Corp boosted its holdings in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ during the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.0%

QQQ stock opened at $529.92 on Friday. The company has a market cap of $332.07 billion, a P/E ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The company’s 50-day moving average price is $483.20 and its 200 day moving average price is $501.87.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

Invesco QQQ Company 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.