New Wave Wealth Advisors LLC Makes New Investment in Invesco NASDAQ 100 ETF (NASDAQ:QQQM)

New Wave Wealth Advisors LLC acquired a new stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) during the second quarter, HoldingsChannel reports. The firm acquired 9,071 shares of the company’s stock, valued at approximately $1,788,000. Invesco NASDAQ 100 ETF comprises about 1.0% of New Wave Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rollins Financial boosted its stake in Invesco NASDAQ 100 ETF by 9.8% in the fourth quarter. Rollins Financial now owns 40,425 shares of the company’s stock valued at $6,813,000 after acquiring an additional 3,619 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Invesco NASDAQ 100 ETF by 5.0% in the 4th quarter. Stifel Financial Corp now owns 68,881 shares of the company’s stock valued at $11,609,000 after purchasing an additional 3,264 shares during the period. Focus Financial Network Inc. ADV purchased a new position in Invesco NASDAQ 100 ETF during the 4th quarter worth approximately $397,000. Jones Financial Companies Lllp acquired a new position in Invesco NASDAQ 100 ETF during the fourth quarter worth approximately $345,000. Finally, Cornerstone Advisory LLC purchased a new stake in Invesco NASDAQ 100 ETF in the fourth quarter valued at approximately $539,000.

Invesco NASDAQ 100 ETF Trading Up 0.3 %

QQQM stock opened at $200.85 on Tuesday. The company has a market capitalization of $31.23 billion, a P/E ratio of 34.39 and a beta of 1.18. The business has a 50 day simple moving average of $192.71 and a 200-day simple moving average of $189.53. Invesco NASDAQ 100 ETF has a twelve month low of $140.84 and a twelve month high of $207.24.

Invesco NASDAQ 100 ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Monday, September 23rd.

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.