Redmont Wealth Advisors LLC Has $1.19 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Redmont Wealth Advisors LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,896 shares of the exchange traded fund’s stock after purchasing an additional 358 shares during the period. Invesco QQQ comprises about 1.7% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest position. Redmont Wealth Advisors LLC’s holdings in Invesco QQQ were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in Invesco QQQ by 113.5% in the second quarter. Barclays PLC now owns 5,777,618 shares of the exchange traded fund’s stock valued at $2,134,368,000 after acquiring an additional 48,423,350 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Invesco QQQ by 156,045.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock worth $11,580,806,000 after buying an additional 43,463,232 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after buying an additional 28,263,426 shares in the last quarter. Morgan Stanley grew its position in Invesco QQQ by 10.0% in the fourth quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock valued at $4,477,628,000 after acquiring an additional 1,533,114 shares during the period. Finally, Granite Bay Wealth Management LLC increased its position in shares of Invesco QQQ by 2,372.7% during the 3rd quarter. Granite Bay Wealth Management LLC now owns 804,357 shares of the exchange traded fund’s stock worth $298,345,000 after purchasing an additional 771,827 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $7.82 on Friday, reaching $415.59. The stock had a trading volume of 49,471,541 shares, compared to its average volume of 45,657,285. The stock has a fifty day moving average price of $438.05 and a 200-day moving average price of $407.51. Invesco QQQ has a 1-year low of $309.89 and a 1-year high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

Invesco QQQ Company Profile

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.