IFP Advisors Inc Raises Position in Invesco NASDAQ 100 ETF $QQQM

IFP Advisors Inc raised its stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 70.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,210 shares of the company’s stock after purchasing an additional 6,676 shares during the quarter. IFP Advisors Inc’s holdings in Invesco NASDAQ 100 ETF were worth $3,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Invesco NASDAQ 100 ETF by 91.6% during the first quarter. Sequoia Financial Advisors LLC now owns 2,656 shares of the company’s stock valued at $513,000 after acquiring an additional 1,270 shares during the last quarter. Mather Group LLC. increased its position in shares of Invesco NASDAQ 100 ETF by 80.6% during the first quarter. Mather Group LLC. now owns 168 shares of the company’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. San Luis Wealth Advisors LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF during the second quarter valued at approximately $1,932,000. Savvy Advisors Inc. increased its position in shares of Invesco NASDAQ 100 ETF by 18.0% during the first quarter. Savvy Advisors Inc. now owns 2,608 shares of the company’s stock valued at $503,000 after acquiring an additional 398 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new stake in shares of Invesco NASDAQ 100 ETF during the first quarter valued at approximately $203,000.

Invesco NASDAQ 100 ETF Trading Down 3.5%

Shares of QQQM opened at $242.67 on Friday. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 31.95 and a beta of 1.18. The stock has a 50 day moving average of $240.37 and a 200 day moving average of $220.64. Invesco NASDAQ 100 ETF has a 12 month low of $165.72 and a 12 month high of $252.42.

Invesco NASDAQ 100 ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Monday, September 22nd were given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, September 22nd.

Invesco NASDAQ 100 ETF Company Profile

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.