Drake & Associates LLC Has $12.85 Million Stock Position in Invesco NASDAQ 100 ETF $QQQM

Drake & Associates LLC increased its stake in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 4.7% during the third quarter, HoldingsChannel reports. The fund owned 50,061 shares of the company’s stock after acquiring an additional 2,268 shares during the quarter. Invesco NASDAQ 100 ETF makes up about 2.7% of Drake & Associates LLC’s portfolio, making the stock its 13th biggest holding. Drake & Associates LLC’s holdings in Invesco NASDAQ 100 ETF were worth $12,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jackson Hole Capital Partners LLC bought a new position in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC acquired a new stake in Invesco NASDAQ 100 ETF during the third quarter worth about $26,000. Trust Co. of Toledo NA OH bought a new position in Invesco NASDAQ 100 ETF during the third quarter valued at about $28,000. Mather Group LLC. acquired a new position in Invesco NASDAQ 100 ETF in the 3rd quarter valued at approximately $42,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Invesco NASDAQ 100 ETF in the 2nd quarter worth approximately $43,000.

Invesco NASDAQ 100 ETF Trading Up 0.3%

Shares of NASDAQ:QQQM opened at $252.43 on Thursday. The firm has a market capitalization of $72.41 billion, a PE ratio of 31.95 and a beta of 1.16. Invesco NASDAQ 100 ETF has a 1-year low of $165.72 and a 1-year high of $262.23. The business’s 50 day moving average is $254.94 and its 200-day moving average is $248.37.

Invesco NASDAQ 100 ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, December 22nd were paid a dividend of $0.323 per share. This is an increase from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.30. This represents a $1.29 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, December 22nd.

Invesco NASDAQ 100 ETF 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.