Fortune Financial Group Inc. Invests $845,000 in Invesco NASDAQ 100 ETF $QQQM

Fortune Financial Group Inc. acquired a new position in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,340 shares of the company’s stock, valued at approximately $845,000. Invesco NASDAQ 100 ETF makes up about 0.9% of Fortune Financial Group Inc.’s portfolio, making the stock its 25th largest position.

Several other hedge funds have also modified their holdings of QQQM. Garner Asset Management Corp purchased a new stake in shares of Invesco NASDAQ 100 ETF during the 4th quarter worth approximately $25,000. New Millennium Group LLC raised its holdings in shares of Invesco NASDAQ 100 ETF by 671.4% during the 3rd quarter. New Millennium Group LLC now owns 108 shares of the company’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $31,000. Imprint Wealth LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $31,000. Finally, Bank & Trust Co purchased a new stake in shares of Invesco NASDAQ 100 ETF during the 4th quarter worth approximately $46,000.

Invesco NASDAQ 100 ETF Price Performance

Shares of QQQM opened at $285.92 on Thursday. The stock has a market capitalization of $85.83 billion, a price-to-earnings ratio of 31.95 and a beta of 1.23. Invesco NASDAQ 100 ETF has a 1 year low of $215.55 and a 1 year high of $308.21. The business’s 50 day simple moving average is $278.05 and its 200-day simple moving average is $260.89.

Invesco NASDAQ 100 ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.3277 dividend. This is an increase from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32. This represents a $1.31 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, March 23rd.

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.