Selective Wealth Management Inc. Increases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Selective Wealth Management Inc. grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.6% during the 1st quarter, Holdings Channel reports. The firm owned 3,814 shares of the exchange traded fund’s stock after buying an additional 23 shares during the period. Invesco QQQ comprises approximately 0.7% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Selective Wealth Management Inc.’s holdings in Invesco QQQ were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of QQQ. PayPay Securities Corp grew its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in Invesco QQQ during the fourth quarter worth approximately $51,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.0%

QQQ stock opened at $529.92 on Monday. The company has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The business has a fifty day simple moving average of $483.20 and a 200-day simple moving average of $501.85. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.