Axxcess Wealth Management LLC Reduces Stake in Invesco QQQ

Axxcess Wealth Management LLC has reduced its investment in Invesco QQQ (NASDAQ:QQQ - Free Report), a popular exchange-traded fund, by 31.4% during the fourth quarter of the year. According to the firm's latest filing with the Securities and Exchange Commission, Axxcess now holds 62,361 shares of the ETF after selling 28,545 shares during this period. This reduction means that Invesco QQQ accounts for approximately 0.7% of Axxcess Wealth Management LLC's total portfolio, making it their 28th largest holding. The value of their remaining shares in Invesco QQQ is reported to be around $30,335,000 based on the most recent SEC filing.

Recent Activity by Other Investors

Following the trends in the market, other significant investors have also adjusted their positions in Invesco QQQ. For instance, Stephens Consulting LLC increased its stake by 0.4% in the fourth quarter, obtaining an additional 19 shares for a total of 5,416 shares valued at approximately $2,769,000. Moreover, Cardinal Point Capital Management ULC raised its holdings in Invesco QQQ by 0.5%, now owning 3,902 shares with a total value of about $1,995,000 after acquiring 20 more shares during the same period. On a similar note, Hoese & Co LLP boosted its investment by 32.3%, resulting in ownership of 82 shares worth $42,000 after buying 20 additional shares. Furthermore, Farmers & Merchants Investments Inc. and RAM Investment Partners LLC also made changes, lifting their stakes by 1.9% and 1.7%, respectively. Currently, institutional investors and hedge funds collectively hold 44.58% of Invesco QQQ's shares.

Invesco QQQ Performance Indicators

As for Invesco QQQ's market performance, the stock opened at $482.77 on Tuesday, reflecting a strong market capitalization of $304.27 billion. The stock holds a price-to-earnings ratio of 30.74 and has a beta of 1.11, indicating its volatility compared to the overall market. Over the past year, Invesco QQQ has experienced a low of $413.07 and a high of $540.81. Notably, its fifty-day simple moving average stands at $514.05, while the 200-day average is $504.16.

Dividend Announcement

In related news, Invesco QQQ has declared a dividend which was recently disbursed on December 31st. Shareholders were issued a dividend of $0.8347, with the record date set for December 23rd.

About Invesco QQQ

Invesco QQQ, specifically the PowerShares QQQ Trust, Series 1, operates as a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The objective of this trust is to deliver investment results that mirror the price and yield performance of the Nasdaq-100 Index. It grants investors access to a portfolio of securities, closely reflecting the weighting of the securities included in the Nasdaq-100 Index.

investment, fund, ETF