Adamsbrown Wealth Consultants LLC Shows Confidence in Invesco NASDAQ 100 ETF with Increased Position
On August 19, 2023, it was reported that Adamsbrown Wealth Consultants LLC had increased its position in Invesco NASDAQ 100 ETF (NASDAQ:QQQM) during the first quarter. The information was disclosed in the firm’s recently submitted Form 13F filing with the Securities and Exchange Commission (SEC). According to the filing, the company acquired an additional 1,752 shares of Invesco NASDAQ 100 ETF, resulting in a 7.1% rise in their overall holdings.
Prior to this acquisition, Adamsbrown Wealth Consultants LLC already owned 26,393 shares of Invesco NASDAQ 100 ETF. However, the purchase of these additional shares reflects their confidence and optimism in the investment opportunity presented by this particular exchange-traded fund.
Despite holding a relatively small portion of Adamsbrown Wealth Consultants LLC’s investment portfolio at approximately 2.0%, Invesco NASDAQ 100 ETF remains its fourteenth largest position. This indicates that while it may not have the highest allocation within their overall strategy, it still holds significant importance within their diverse range of investments.
The market value of Adamsbrown Wealth Consultants LLC’s holdings in Invesco NASDAQ 100 ETF was estimated at $3,484,000 as of the most recent reporting period. This valuation provides insight into the significance and scale of their investment in this particular ETF.
In conclusion, Adamsbrown Wealth Consultants LLC’s increased position in Invesco NASDAQ 100 ETF during the first quarter demonstrates their conviction in the potential returns offered by this investment vehicle. With a notable increase in shares held and a consistent belief in its value, it is clear that they view Invesco NASDAQ 100 ETF as an attractive addition to their investment portfolio.
Invesco NASDAQ 100 ETF
Updated on: 20/08/2023
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Notable Changes in Invesco NASDAQ 100 ETF Holdings Spark Investor Interest
In recent months, there have been notable changes in the holdings of Invesco NASDAQ 100 ETF (QQQM) by several large investors. C2P Capital Advisory Group LLC, also known as Prosperity Capital Advisors, increased their stake in the company by 3.1% during the first quarter. This resulted in them now owning 2,680 shares of QQQM, valued at $354,000 after purchasing an additional 80 shares.
Similarly, Pitti Group Wealth Management LLC saw a slight increase of 1.1% in their holdings of Invesco NASDAQ 100 ETF during the same period. They now possess 7,592 shares worth approximately $1,002,000 after acquiring an additional 82 shares. CFS Investment Advisory Services LLC also demonstrated a modest rise of 1.3% in its ownership of QQQM and currently holds 7,424 shares valued at $980,000 after buying an extra 92 shares.
Furthermore, Brandywine Oak Private Wealth LLC witnessed a marginal increase of 1.4% in their stake of Invesco NASDAQ 100 ETF during the fourth quarter. With an additional purchase of 100 shares, they now own 7,223 shares valued at $791,000. Finally, TrueWealth Advisors LLC added to its holdings with a growth rate of 2%, resulting in their ownership of QQQM standing at 5,201 shares worth $687,000 after purchasing an additional 104 shares.
Taking into account recent trading activity on Friday alone, it is worth noting that QQQM experienced a decrease in value with a drop of $0.56 to reach $146.95 per share during midday trading session on that day. As many as 637,615 units traded hands during this period compared to the average volume of approximately 1,087,912 units.
It is essential to understand the background of Invesco NASDAQ 100 ETF before considering an investment. QQQM is an exchange-traded fund that has been designed to track the performance of the NASDAQ-100 index. The fund operates using a passive management strategy, aiming to replicate a modified-market-cap weighted narrow index consisting of 100 stocks listed on the NASDAQ exchange, excluding financial companies.
QQQM was launched on October 13, 2020, and has since been managed by Invesco. Despite its brief existence in the market, it has garnered significant attention from investors due to its focus on tracking the performance of technology and growth-oriented companies included in the NASDAQ-100 index.
It is worth noting that Invesco NASDAQ 100 ETF has experienced fluctuations in price over the past year, with a low of $104.62 and a high of $159.57. Currently, the stock’s fifty-day moving average stands at $152.46, while its two-hundred-day moving average is recorded at $137.66.
With a market capitalization of approximately $13.51 billion and a price-to-earnings ratio of 21.58, Invesco NASDAQ 100 ETF presents itself as an intriguing option for investors seeking exposure to leading technology firms listed on the NASDAQ exchange.
Therefore, individuals contemplating investments in QQQM should carefully consider these factors and conduct thorough research before making any decisions regarding this exchange-traded fund offered by Invesco.