Arax Advisory Partners Acquires Shares of 33,896 Invesco NASDAQ 100 ETF $QQQM

Arax Advisory Partners purchased a new stake in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 33,896 shares of the company’s stock, valued at approximately $8,573,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bright Futures Wealth Management LLC. acquired a new stake in shares of Invesco NASDAQ 100 ETF during the 3rd quarter valued at approximately $617,000. Bank of New York Mellon Corp lifted its position in shares of Invesco NASDAQ 100 ETF by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 835,930 shares of the company’s stock valued at $211,423,000 after acquiring an additional 62,705 shares during the period. Blue Edge Capital LLC lifted its position in shares of Invesco NASDAQ 100 ETF by 29.9% during the 3rd quarter. Blue Edge Capital LLC now owns 23,072 shares of the company’s stock valued at $5,702,000 after acquiring an additional 5,309 shares during the period. EdgeRock Capital LLC lifted its position in shares of Invesco NASDAQ 100 ETF by 2.5% during the 4th quarter. EdgeRock Capital LLC now owns 154,578 shares of the company’s stock valued at $39,104,000 after acquiring an additional 3,809 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Invesco NASDAQ 100 ETF by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 85,731 shares of the company’s stock valued at $21,683,000 after acquiring an additional 22,077 shares during the period.

Invesco NASDAQ 100 ETF Trading Up 0.7%

QQQM stock opened at $297.01 on Friday. The firm has a 50 day moving average of $280.33 and a 200-day moving average of $261.51. Invesco NASDAQ 100 ETF has a 12-month low of $215.55 and a 12-month high of $308.21. The company has a market cap of $89.16 billion, a price-to-earnings ratio of 31.95 and a beta of 1.23.

Invesco NASDAQ 100 ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a dividend of $0.3277 per share. The ex-dividend date was Monday, March 23rd. This represents a $1.31 annualized dividend and a dividend yield of 0.4%. This is an increase from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32.

About Invesco NASDAQ 100 ETF

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.