Drake & Associates LLC Makes New Investment in Invesco NASDAQ 100 ETF $QQQM

Drake & Associates LLC acquired a new stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,793 shares of the company’s stock, valued at approximately $10,854,000. Invesco NASDAQ 100 ETF accounts for approximately 2.7% of Drake & Associates LLC’s portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bison Wealth LLC bought a new stake in shares of Invesco NASDAQ 100 ETF in the fourth quarter worth about $393,000. Miracle Mile Advisors LLC purchased a new stake in Invesco NASDAQ 100 ETF in the 1st quarter worth approximately $281,000. Capital Investment Advisors LLC bought a new stake in shares of Invesco NASDAQ 100 ETF in the 1st quarter worth approximately $420,000. Farther Finance Advisors LLC increased its stake in shares of Invesco NASDAQ 100 ETF by 93.9% during the first quarter. Farther Finance Advisors LLC now owns 17,595 shares of the company’s stock valued at $3,424,000 after buying an additional 8,521 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of Invesco NASDAQ 100 ETF by 9.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 36,412 shares of the company’s stock valued at $7,028,000 after acquiring an additional 3,175 shares in the last quarter.

Invesco NASDAQ 100 ETF Stock Up 0.7%

Shares of QQQM stock opened at $250.17 on Tuesday. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 31.95 and a beta of 1.18. The stock has a fifty day moving average of $239.03 and a 200 day moving average of $219.60. Invesco NASDAQ 100 ETF has a 52 week low of $165.72 and a 52 week high of $250.85.

Invesco NASDAQ 100 ETF Cuts Dividend

The business 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. The ex-dividend date was Monday, September 22nd. This represents a $1.21 annualized dividend and a dividend yield of 0.5%.

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.