Invesco NASDAQ 100 ETF Target of Unusually Large Options Trading (NASDAQ:QQQM)

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) was the recipient of unusually large options trading activity on Thursday. Traders purchased 8,613 call options on the stock. This represents an increase of approximately 1,098% compared to the typical volume of 719 call options.

Invesco NASDAQ 100 ETF Stock Down 0.3 %

QQQM stock traded down $0.53 during trading on Thursday, reaching $210.30. The stock had a trading volume of 447,722 shares, compared to its average volume of 1,816,409. Invesco NASDAQ 100 ETF has a one year low of $157.44 and a one year high of $212.19. The company’s 50 day moving average is $200.61 and its two-hundred day moving average is $194.84. The company has a market capitalization of $35.84 billion, a price-to-earnings ratio of 34.39 and a beta of 1.18.

Invesco NASDAQ 100 ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were issued a dividend of $0.30 per share. The ex-dividend date was Monday, September 23rd. This represents a $1.20 dividend on an annualized basis and a yield of 0.57%.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in Invesco NASDAQ 100 ETF by 1,650.6% in the second quarter. Envestnet Asset Management Inc. now owns 7,760,864 shares of the company’s stock worth $1,529,744,000 after acquiring an additional 7,317,531 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in Invesco NASDAQ 100 ETF by 13.9% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,178,000 shares of the company’s stock valued at $1,240,851,000 after purchasing an additional 754,700 shares during the period. Strategic Financial Concepts LLC increased its position in Invesco NASDAQ 100 ETF by 10,544.5% in the second quarter. Strategic Financial Concepts LLC now owns 4,016,689 shares of the company’s stock worth $7,917,000 after buying an additional 3,978,954 shares during the last quarter. National Mutual Insurance Federation of Agricultural Cooperatives raised its stake in shares of Invesco NASDAQ 100 ETF by 260.2% in the third quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 2,370,000 shares of the company’s stock valued at $476,014,000 after buying an additional 1,712,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco NASDAQ 100 ETF by 19.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,714,506 shares of the company’s stock valued at $337,951,000 after buying an additional 283,257 shares during the last quarter.

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.