Invesco QQQ (NASDAQ:QQQ) is Global Wealth Management Investment Advisory Inc.'s 5th Largest Position

Global Wealth Management Investment Advisory Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,806 shares of the exchange traded fund's stock after buying an additional 777 shares during the quarter. Invesco QQQ comprises approximately 2.9% of Global Wealth Management Investment Advisory Inc.'s holdings, making the stock its 5th largest position. Global Wealth Management Investment Advisory Inc.'s holdings in Invesco QQQ were worth $14,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter valued at approximately $1,018,000. Grant Private Wealth Management Inc bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $815,000. Tandem Investment Partners LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at $4,623,000. Gemsstock Ltd. increased its position in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares during the last quarter. Finally, Wescott Financial Advisory Group LLC raised its stake in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.9%

Shares of NASDAQ:QQQ traded up $5.08 during trading on Friday, reaching $555.88. The company's stock had a trading volume of 26,443,524 shares, compared to its average volume of 39,231,028. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $557.20. The firm's 50 day simple moving average is $517.86 and its two-hundred day simple moving average is $504.61.

Invesco QQQ Cuts Dividend

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

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.