Independent Financial Group LLC Invests $5.73 Million in Invesco NASDAQ 100 ETF $QQQM

Independent Financial Group LLC bought a new stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,121 shares of the company’s stock, valued at approximately $5,731,000.

Several other institutional investors and hedge funds have also made changes to their positions in QQQM. Prosperity Consulting Group LLC grew its holdings in Invesco NASDAQ 100 ETF by 77.3% during the 1st quarter. Prosperity Consulting Group LLC now owns 220,323 shares of the company’s stock valued at $52,353,000 after purchasing an additional 96,049 shares in the last quarter. Ridgeline Wealth Planning LLC increased its stake in Invesco NASDAQ 100 ETF by 4.4% during the 1st quarter. Ridgeline Wealth Planning LLC now owns 886 shares of the company’s stock worth $211,000 after buying an additional 37 shares during the period. Wealthfront Advisers LLC lifted its holdings in Invesco NASDAQ 100 ETF by 22.5% in the 1st quarter. Wealthfront Advisers LLC now owns 259,607 shares of the company’s stock worth $61,688,000 after buying an additional 47,597 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Invesco NASDAQ 100 ETF by 26.1% in the 1st quarter. D.A. Davidson & CO. now owns 14,590 shares of the company’s stock worth $3,467,000 after buying an additional 3,019 shares in the last quarter. Finally, Beaumont Financial Advisors LLC boosted its position in Invesco NASDAQ 100 ETF by 27.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,264 shares of the company’s stock valued at $538,000 after buying an additional 492 shares during the last quarter.

Invesco NASDAQ 100 ETF Price Performance

NASDAQ:QQQM opened at $290.68 on Friday. The firm has a 50-day moving average of $296.69 and a two-hundred day moving average of $268.77. The stock has a market cap of $97.89 billion, a P/E ratio of 31.95 and a beta of 1.22. Invesco NASDAQ 100 ETF has a 1-year low of $227.00 and a 1-year high of $308.21.

Invesco NASDAQ 100 ETF Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a $0.3522 dividend. The ex-dividend date was Monday, June 22nd. This represents a $1.41 annualized dividend and a dividend yield of 0.5%.

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.