Axxcess Wealth Management LLC Has $18.82 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Axxcess Wealth Management LLC lowered its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 30.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 43,104 shares of the exchange traded fund's stock after selling 19,257 shares during the period. Axxcess Wealth Management LLC's holdings in Invesco QQQ were worth $18,818,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $1,018,000. Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $815,000. Gemsstock Ltd. boosted 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 valued at $150,046,000 after buying an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its position in Invesco QQQ by 1.8% in 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 buying an additional 2,600 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.7%

NASDAQ QQQ traded up $3.91 on Wednesday, hitting $556.25. The company's stock had a trading volume of 42,940,948 shares, compared to its average volume of 39,369,663. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.57. The company's 50-day moving average is $522.66 and its 200 day moving average is $505.17.

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 given 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 dividend 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.