Axxcess Wealth Management LLC Has $23.26 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Axxcess Wealth Management LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,806 shares of the exchange traded fund’s stock after selling 10,881 shares during the period. Invesco QQQ makes up about 0.7% of Axxcess Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Axxcess Wealth Management LLC’s holdings in Invesco QQQ were worth $23,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Red Tortoise LLC increased its holdings in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the period. Friedenthal Financial acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. bought a new stake in Invesco QQQ in the fourth quarter valued at about $42,000. Core Wealth Advisors Inc. raised its position in Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares in the last quarter. Finally, Hexagon Capital Partners LLC acquired a new stake in Invesco QQQ during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 2.0 %

QQQ traded up $8.58 during trading on Friday, hitting $435.48. The company’s stock had a trading volume of 48,515,252 shares, compared to its average volume of 48,759,256. Invesco QQQ has a 12 month low of $315.11 and a 12 month high of $449.34. The firm’s 50 day moving average price is $436.53 and its two-hundred day moving average price is $412.18.

Invesco QQQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, March 18th.

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.