Financial Advisors Network Inc. Takes Position in Invesco NASDAQ 100 ETF $QQQM

Financial Advisors Network Inc. acquired a new stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,070 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQM. Raymond James Financial Inc. boosted its stake in shares of Invesco NASDAQ 100 ETF by 23.7% in the 1st quarter. Raymond James Financial Inc. now owns 2,201,585 shares of the company’s stock valued at $424,950,000 after buying an additional 421,792 shares during the period. Ameriprise Financial Inc. lifted its stake in Invesco NASDAQ 100 ETF by 36.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,528,582 shares of the company’s stock worth $321,636,000 after purchasing an additional 411,658 shares during the last quarter. Nissay Asset Management Corp Japan ADV purchased a new stake in Invesco NASDAQ 100 ETF during the fourth quarter worth approximately $66,007,000. Commonwealth Equity Services LLC lifted its stake in Invesco NASDAQ 100 ETF by 35.6% during the first quarter. Commonwealth Equity Services LLC now owns 860,358 shares of the company’s stock worth $166,066,000 after purchasing an additional 225,699 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co purchased a new stake in Invesco NASDAQ 100 ETF during the fourth quarter worth approximately $46,299,000.

Invesco NASDAQ 100 ETF Stock Down 0.0%

QQQM stock opened at $237.57 on Tuesday. The business has a 50 day moving average price of $228.49 and a 200 day moving average price of $211.80. The stock has a market cap of $56.96 billion, a price-to-earnings ratio of 31.95 and a beta of 1.18. Invesco NASDAQ 100 ETF has a fifty-two week low of $165.72 and a fifty-two week high of $240.11.

Invesco NASDAQ 100 ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 23rd were paid a dividend of $0.3161 per share. The ex-dividend date was Monday, June 23rd. This is a positive change from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a 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.