Executive Wealth Management LLC Invests $6.66 Million in Invesco QQQ

Executive Wealth Management LLC has taken a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the third quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,648 shares of this exchange-traded fund, with a total value of approximately $6,661,000.

Investment Activities by Other Hedge Funds

Other hedge funds have also made moves in the Invesco QQQ market. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the first quarter, valued around $28,000. Similarly, Mechanics Financial Corp initiated a new stake in Invesco QQQ in the second quarter, valued at $30,000. Chelsea Counsel Co. invested about $40,000 in the first quarter, while CGC Financial Services LLC significantly increased its holdings by 736.4% during the second quarter, bringing its total to 92 shares valued at $44,000 after acquiring an additional 81 shares. Lastly, CarsonAllaria Wealth Management Ltd. raised its stake in Invesco QQQ by 30.4% during the first quarter, ending up with 103 shares worth $46,000 after an additional purchase of 24 shares in the last quarter. Currently, institutional investors own approximately 44.58% of the stock.

Price Performance of Invesco QQQ

The stock opened at $514.14 on Friday. Invesco QQQ has shown a 1-year low of $369.57 and a 1-year high of $514.92. Its 50-day moving average stands at $484.62, while the 200-day moving average is at $471.30.

Dividend Information

Invesco QQQ also recently announced a quarterly dividend, which was disbursed on Thursday, October 31st. Shareholders recorded on Monday, September 23rd, received a dividend of $0.677. The ex-dividend date for this dividend was the same, September 23rd. This equates to an annualized dividend of $2.71, giving a yield of 0.53%.

About Invesco QQQ

(Free Report) The PowerShares QQQ Trust, Series 1, is a unit investment trust that issues shares known as Nasdaq-100 Index Tracking Stock. The objective of the Trust is to deliver investment results that typically align with the price and yield performance of the Nasdaq-100 Index. Investors can purchase units representing proportionate undivided interests in the portfolio of securities held by the Trust, which encompasses nearly all of the securities and maintains similar weightings as the component stocks of the Nasdaq-100 Index.

Investment Considerations

Before considering an investment in Invesco QQQ, investors should note that it currently holds a "Hold" rating among analysts. Recent analyses have identified five alternative stocks that analysts regard as better buys than Invesco QQQ.

For more insights into these recommendations and market trends, investors are encouraged to conduct thorough research.

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