Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Sets New 12-Month High – Should You Buy?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $297.33 and last traded at $297.02, with a volume of 1680566 shares. The stock had previously closed at $294.21.

Invesco NASDAQ 100 ETF Stock Performance

The company has a fifty day moving average of $262.11 and a two-hundred day moving average of $256.25. The company has a market cap of $89.02 billion, a PE ratio of 31.95 and a beta of 1.21.

Invesco NASDAQ 100 ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a $0.3277 dividend. This is a boost from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.31 annualized dividend and a yield of 0.4%.

Institutional Investors Weigh In On Invesco NASDAQ 100 ETF

A number of institutional investors have recently added to or reduced their stakes in QQQM. Bright Futures Wealth Management LLC. acquired a new position in Invesco NASDAQ 100 ETF during the third quarter worth $617,000. Aspire Growth Partners LLC increased its position in Invesco NASDAQ 100 ETF by 12.4% in the 3rd quarter. Aspire Growth Partners LLC now owns 24,952 shares of the company’s stock valued at $6,166,000 after acquiring an additional 2,747 shares during the period. Blue Edge Capital LLC increased its position in Invesco NASDAQ 100 ETF by 29.9% in the 3rd quarter. Blue Edge Capital LLC now owns 23,072 shares of the company’s stock valued at $5,702,000 after acquiring an additional 5,309 shares during the period. Atria Investments Inc increased its position in shares of Invesco NASDAQ 100 ETF by 6.1% during the third quarter. Atria Investments Inc now owns 57,028 shares of the company’s stock worth $14,093,000 after buying an additional 3,275 shares during the period. Finally, Drake & Associates LLC grew its holdings in Invesco NASDAQ 100 ETF by 4.7% in the third quarter. Drake & Associates LLC now owns 50,061 shares of the company’s stock worth $12,845,000 after purchasing an additional 2,268 shares during the period.

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.