Summit Financial LLC Sells 7,425 Shares of Invesco NASDAQ 100 ETF $QQQM

Summit Financial LLC lessened its holdings in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 342,229 shares of the company’s stock after selling 7,425 shares during the period. Invesco NASDAQ 100 ETF makes up approximately 1.3% of Summit Financial LLC’s portfolio, making the stock its 11th biggest position. Summit Financial LLC’s holdings in Invesco NASDAQ 100 ETF were worth $86,557,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QQQM. Bison Wealth LLC bought a new position in shares of Invesco NASDAQ 100 ETF in the 4th quarter valued at about $393,000. Capstone Wealth Management Group LLC increased its holdings in Invesco NASDAQ 100 ETF by 9.6% in the first quarter. Capstone Wealth Management Group LLC now owns 36,933 shares of the company’s stock valued at $7,129,000 after purchasing an additional 3,220 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Invesco NASDAQ 100 ETF by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 51,164 shares of the company’s stock valued at $9,876,000 after purchasing an additional 819 shares during the last quarter. Empowered Funds LLC bought a new stake in Invesco NASDAQ 100 ETF in the first quarter valued at about $742,000. Finally, Valeo Financial Advisors LLC bought a new stake in Invesco NASDAQ 100 ETF in the second quarter valued at about $534,000.

Invesco NASDAQ 100 ETF Trading Up 0.7%

NASDAQ QQQM opened at $297.01 on Friday. The stock has a 50-day simple moving average of $280.33 and a 200 day simple moving average of $261.51. The company has a market capitalization of $89.16 billion, a PE ratio of 31.95 and a beta of 1.23. Invesco NASDAQ 100 ETF has a 12 month low of $215.55 and a 12 month high of $308.21.

Invesco NASDAQ 100 ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a dividend of $0.3277 per share. This represents a $1.31 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd. This is a positive change from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32.

About Invesco NASDAQ 100 ETF

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.