Iams Wealth Management LLC Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Iams Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 48.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,938 shares of the exchange traded fund’s stock after acquiring an additional 4,534 shares during the quarter. Invesco QQQ accounts for about 3.7% of Iams Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Iams Wealth Management LLC’s holdings in Invesco QQQ were worth $6,067,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in QQQ. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the first quarter worth approximately $29,000. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Red Tortoise LLC grew 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 worth $39,000 after acquiring an additional 74 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $41,000. Finally, Robinson Capital Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.0 %

NASDAQ QQQ opened at $486.98 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20. The stock has a 50 day simple moving average of $456.11 and a two-hundred day simple moving average of $437.32.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a $0.7615 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.