Belpointe Asset Management LLC Sells 5,246 Shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM)

Belpointe Asset Management LLC lowered its stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 15.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,138 shares of the company’s stock after selling 5,246 shares during the quarter. Belpointe Asset Management LLC’s holdings in Invesco NASDAQ 100 ETF were worth $5,546,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Invesco NASDAQ 100 ETF by 6.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,428,387 shares of the company’s stock worth $260,952,000 after purchasing an additional 80,230 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Invesco NASDAQ 100 ETF by 6.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,418,246 shares of the company’s stock worth $279,551,000 after purchasing an additional 83,702 shares in the last quarter. Meitav Investment House Ltd. raised its holdings in Invesco NASDAQ 100 ETF by 1.4% in the 1st quarter. Meitav Investment House Ltd. now owns 1,264,323 shares of the company’s stock worth $231,041,000 after purchasing an additional 17,800 shares during the period. Cetera Investment Advisers grew its holdings in Invesco NASDAQ 100 ETF by 536.4% during the first quarter. Cetera Investment Advisers now owns 1,043,700 shares of the company’s stock valued at $190,673,000 after purchasing an additional 879,707 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Invesco NASDAQ 100 ETF by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 987,227 shares of the company’s stock worth $194,592,000 after buying an additional 57,819 shares during the period.

Invesco NASDAQ 100 ETF Price Performance

Shares of NASDAQ:QQQM traded up $0.17 during mid-day trading on Wednesday, reaching $190.25. 984,970 shares of the company traded hands, compared to its average volume of 1,807,971. Invesco NASDAQ 100 ETF has a 52 week low of $140.84 and a 52 week high of $207.24. The firm has a market cap of $29.58 billion, a PE ratio of 34.39 and a beta of 1.18. The company’s 50 day moving average price is $195.16 and its 200-day moving average price is $187.46.

Invesco NASDAQ 100 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were given a dividend of $0.3199 per share. The ex-dividend date was Monday, June 24th. This represents a $1.28 annualized dividend and a dividend yield of 0.67%.

Invesco NASDAQ 100 ETF Company Profile

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.