Summit Financial Consulting LLC Makes New $5.08 Million Investment in Invesco NASDAQ 100 ETF (NASDAQ:QQQM)

Summit Financial Consulting LLC bought a new position in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 26,331 shares of the company’s stock, valued at approximately $5,082,000. Invesco NASDAQ 100 ETF accounts for 4.7% of Summit Financial Consulting LLC’s holdings, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings in Invesco NASDAQ 100 ETF by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,323,266 shares of the company’s stock worth $1,962,081,000 after buying an additional 1,170,093 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Invesco NASDAQ 100 ETF by 1.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,653,767 shares of the company’s stock worth $1,610,735,000 after acquiring an additional 84,709 shares in the last quarter. FMR LLC raised its position in shares of Invesco NASDAQ 100 ETF by 46.5% in the 4th quarter. FMR LLC now owns 2,261,812 shares of the company’s stock worth $478,521,000 after acquiring an additional 717,591 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Invesco NASDAQ 100 ETF by 11.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,630,124 shares of the company’s stock worth $343,059,000 after acquiring an additional 172,596 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Invesco NASDAQ 100 ETF by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,528,582 shares of the company’s stock worth $321,636,000 after acquiring an additional 411,658 shares in the last quarter.

Invesco NASDAQ 100 ETF Trading Up 0.9%

QQQM stock opened at $228.86 on Friday. Invesco NASDAQ 100 ETF has a 1-year low of $165.72 and a 1-year high of $229.35. The firm has a market cap of $53.11 billion, a PE ratio of 31.95 and a beta of 1.18. The stock has a 50-day moving average price of $213.89 and a 200-day moving average price of $207.78.

Invesco NASDAQ 100 ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 23rd were given a $0.3161 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, June 23rd.

Invesco NASDAQ 100 ETF 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.