Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Sets New 52-Week High – Here’s What Happened

Shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) reached a new 52-week high on Wednesday . The stock traded as high as $207.30 and last traded at $206.25, with a volume of 1271350 shares changing hands. The stock had previously closed at $202.58.

Invesco NASDAQ 100 ETF Stock Up 2.7 %

The stock has a market capitalization of $35.46 billion, a P/E ratio of 34.39 and a beta of 1.18. The business has a 50-day simple moving average of $198.79 and a two-hundred day simple moving average of $193.57.

Invesco NASDAQ 100 ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were paid a $0.30 dividend. The ex-dividend date was Monday, September 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.58%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QQQM. Sequoia Financial Advisors LLC bought a new position in Invesco NASDAQ 100 ETF during the first quarter worth about $204,000. Janney Montgomery Scott LLC grew its position in shares of Invesco NASDAQ 100 ETF by 38.6% in the first quarter. Janney Montgomery Scott LLC now owns 31,264 shares of the company’s stock valued at $5,712,000 after purchasing an additional 8,709 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Invesco NASDAQ 100 ETF in the 1st quarter worth about $346,000. Larson Financial Group LLC boosted its stake in shares of Invesco NASDAQ 100 ETF by 147.4% in the first quarter. Larson Financial Group LLC now owns 480 shares of the company’s stock valued at $88,000 after buying an additional 286 shares during the period. Finally, Advisory Services Network LLC increased its holdings in Invesco NASDAQ 100 ETF by 42.6% in the 1st quarter. Advisory Services Network LLC now owns 23,129 shares of the company’s stock valued at $4,225,000 after buying an additional 6,913 shares during the period.

About Invesco NASDAQ 100 ETF

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.