Kovack Advisors Inc. Has $9.39 Million Stake in Invesco NASDAQ 100 ETF $QQQM

Kovack Advisors Inc. grew its position in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 1,472.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 38,938 shares of the company’s stock after acquiring an additional 36,461 shares during the period. Kovack Advisors Inc.’s holdings in Invesco NASDAQ 100 ETF were worth $9,394,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in QQQM. Bright Futures Wealth Management LLC. acquired a new stake in Invesco NASDAQ 100 ETF in the 3rd quarter worth approximately $617,000. Bank of New York Mellon Corp lifted its holdings in Invesco NASDAQ 100 ETF by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 835,930 shares of the company’s stock worth $211,423,000 after purchasing an additional 62,705 shares during the last quarter. Atria Investments Inc lifted its holdings in Invesco NASDAQ 100 ETF by 6.1% in the 3rd quarter. Atria Investments Inc now owns 57,028 shares of the company’s stock worth $14,093,000 after purchasing an additional 3,275 shares during the last quarter. Drake & Associates LLC lifted its holdings in Invesco NASDAQ 100 ETF by 4.7% in the 3rd quarter. Drake & Associates LLC now owns 50,061 shares of the company’s stock worth $12,845,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Blue Edge Capital LLC lifted its holdings in Invesco NASDAQ 100 ETF by 29.9% in the 3rd quarter. Blue Edge Capital LLC now owns 23,072 shares of the company’s stock worth $5,702,000 after purchasing an additional 5,309 shares during the last quarter.

Invesco NASDAQ 100 ETF Stock Performance

QQQM opened at $295.02 on Friday. The business has a 50 day moving average price of $279.20 and a 200 day moving average price of $261.26. Invesco NASDAQ 100 ETF has a twelve month low of $215.55 and a twelve month high of $308.21. The firm has a market cap of $88.56 billion, a P/E ratio of 31.95 and a beta of 1.23.

Invesco NASDAQ 100 ETF Increases Dividend

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

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.