Invesco QQQ (NASDAQ:QQQ) Stake Raised by BKM Wealth Management LLC

BKM Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,459 shares of the exchange traded fund’s stock after purchasing an additional 72 shares during the quarter. Invesco QQQ accounts for approximately 1.9% of BKM Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. BKM Wealth Management LLC’s holdings in Invesco QQQ were worth $4,617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $495.32 on Friday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The business’s 50 day moving average is $480.10 and its 200 day moving average is $466.30.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.