Axxcess Wealth Management LLC Has $30.34 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Axxcess Wealth Management LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 31.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 62,361 shares of the exchange traded fund’s stock after selling 28,545 shares during the quarter. Invesco QQQ accounts for approximately 0.7% of Axxcess Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Axxcess Wealth Management LLC’s holdings in Invesco QQQ were worth $30,335,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. increased its position in shares of Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after acquiring an additional 11,351 shares in the last quarter. NRI Wealth Management LC bought a new stake in shares of Invesco QQQ during the fourth quarter worth about $28,729,000. Garden State Investment Advisory Services LLC increased its position in shares of Invesco QQQ by 13.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after acquiring an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC increased its position in shares of Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after acquiring an additional 6,518 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $482.77 on Tuesday. The firm has a 50-day moving average of $514.05 and a 200-day moving average of $504.16. The company has a market cap of $304.27 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81.

Invesco QQQ Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Invesco QQQ 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.