Invesco QQQ (NASDAQ:QQQ) is BXM Wealth LLC's 2nd Largest Position

BXM Wealth LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 80.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,407 shares of the exchange traded fund's stock after purchasing an additional 4,653 shares during the quarter. Invesco QQQ comprises about 5.8% of BXM Wealth LLC's portfolio, making the stock its 2nd biggest holding. BXM Wealth LLC's holdings in Invesco QQQ were worth $4,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ during the fourth quarter worth $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $3.91 during mid-day trading on Wednesday, reaching $556.25. 42,940,948 shares of the company's stock were exchanged, compared to its average volume of 39,424,508. The business's fifty day simple moving average is $522.66 and its 200 day simple moving average is $505.17. Invesco QQQ has a one year low of $402.39 and a one year high of $557.57.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%.

Invesco QQQ Profile

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.