Merit Financial Group LLC Has $22.22 Million Position in Invesco NASDAQ 100 ETF $QQQM

Merit Financial Group LLC lifted its holdings in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 11.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,896 shares of the company’s stock after purchasing an additional 9,307 shares during the period. Merit Financial Group LLC’s holdings in Invesco NASDAQ 100 ETF were worth $22,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Invesco NASDAQ 100 ETF by 18.8% in the 2nd quarter. Invesco Ltd. now owns 10,834,831 shares of the company’s stock worth $2,460,590,000 after buying an additional 1,715,025 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Invesco NASDAQ 100 ETF by 2.0% in the second quarter. Envestnet Asset Management Inc. now owns 7,601,275 shares of the company’s stock worth $1,726,216,000 after acquiring an additional 152,512 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in Invesco NASDAQ 100 ETF by 73.1% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,860,663 shares of the company’s stock worth $876,757,000 after acquiring an additional 1,630,000 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Invesco NASDAQ 100 ETF by 14.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,366,746 shares of the company’s stock valued at $764,588,000 after purchasing an additional 433,686 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Invesco NASDAQ 100 ETF by 18.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,887,027 shares of the company’s stock valued at $428,543,000 after purchasing an additional 289,510 shares during the last quarter.

Invesco NASDAQ 100 ETF Stock Performance

NASDAQ:QQQM opened at $255.04 on Wednesday. The firm’s 50-day moving average is $253.86 and its 200-day moving average is $242.30. The company has a market cap of $66.80 billion, a price-to-earnings ratio of 31.95 and a beta of 1.16. Invesco NASDAQ 100 ETF has a 52-week low of $165.72 and a 52-week high of $262.23.

Invesco NASDAQ 100 ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were paid a dividend of $0.323 per share. This is a positive change from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.30. This represents a $1.29 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 22nd.

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.