Freedom Investment Management Inc. Invests $453,000 in Invesco NASDAQ 100 ETF (NASDAQ:QQQM)

Freedom Investment Management Inc. bought a new stake in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) in the third quarter, Holdings Channel reports. The institutional investor bought 2,257 shares of the company’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of Invesco NASDAQ 100 ETF by 73.4% during the 1st quarter. Comerica Bank now owns 4,636 shares of the company’s stock worth $847,000 after acquiring an additional 1,962 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Invesco NASDAQ 100 ETF by 13,828.6% during the first quarter. EverSource Wealth Advisors LLC now owns 975 shares of the company’s stock valued at $170,000 after purchasing an additional 968 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in shares of Invesco NASDAQ 100 ETF in the 1st quarter valued at approximately $218,000. GAMMA Investing LLC bought a new stake in shares of Invesco NASDAQ 100 ETF in the 2nd quarter valued at approximately $36,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Invesco NASDAQ 100 ETF by 3.2% in the 2nd quarter. Global Wealth Strategies & Associates now owns 110,880 shares of the company’s stock worth $21,856,000 after buying an additional 3,397 shares in the last quarter.

Invesco NASDAQ 100 ETF Price Performance

Shares of QQQM stock opened at $209.80 on Friday. The stock’s fifty day simple moving average is $204.19 and its 200 day simple moving average is $197.12. Invesco NASDAQ 100 ETF has a one year low of $157.44 and a one year high of $212.19. The firm has a market cap of $35.75 billion, a price-to-earnings ratio of 34.39 and a beta of 1.18.

Invesco NASDAQ 100 ETF Cuts Dividend

The company 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 annualized dividend and a dividend yield of 0.57%.

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.