CJM Wealth Advisers Ltd. Has $55.37 Million Stake in Invesco QQQ (NASDAQ:QQQ)

CJM Wealth Advisers Ltd. raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 113,441 shares of the exchange traded fund’s stock after purchasing an additional 578 shares during the quarter. Invesco QQQ comprises about 19.0% of CJM Wealth Advisers Ltd.’s investment portfolio, making the stock its 2nd biggest holding. CJM Wealth Advisers Ltd.’s holdings in Invesco QQQ were worth $55,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ during the 1st quarter worth approximately $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the 1st quarter valued at $29,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter valued at $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ in the first quarter worth $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $481.59 on Friday. The stock has a fifty day moving average of $469.07 and a 200 day moving average of $461.18. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, September 23rd.

About Invesco QQQ

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.