BXM Wealth LLC Buys 4,653 Shares of Invesco QQQ (NASDAQ:QQQ)

BXM Wealth LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 80.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,407 shares of the exchange traded fund's stock after buying an additional 4,653 shares during the period. Invesco QQQ accounts for approximately 5.8% of BXM Wealth LLC's portfolio, making the stock its 2nd largest position. BXM Wealth LLC's holdings in Invesco QQQ were worth $4,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new position in Invesco QQQ during the fourth quarter worth about $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.2%

NASDAQ QQQ traded down $1.25 during trading hours on Friday, hitting $554.20. 39,558,757 shares of the stock were exchanged, compared to its average volume of 39,410,558. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.63. The stock has a 50-day moving average of $527.06 and a 200 day moving average of $505.91.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

About Invesco QQQ

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.