Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Short Interest Up 80.7% in October

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 717,600 shares, an increase of 80.7% from the September 30th total of 397,200 shares. Based on an average daily volume of 2,050,400 shares, the short-interest ratio is presently 0.3 days.

Invesco NASDAQ 100 ETF Stock Up 0.6 %

Shares of NASDAQ QQQM traded up $1.23 during trading on Friday, hitting $203.85. The company had a trading volume of 2,144,657 shares, compared to its average volume of 1,837,298. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 34.39 and a beta of 1.18. The stock has a fifty day simple moving average of $197.76 and a two-hundred day simple moving average of $192.13. Invesco NASDAQ 100 ETF has a fifty-two week low of $140.84 and a fifty-two week high of $207.24.

Invesco NASDAQ 100 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, September 23rd.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

A number of hedge funds have recently made changes to their positions in QQQM. Envestnet Asset Management Inc. increased its position in shares of Invesco NASDAQ 100 ETF by 1,650.6% during the second quarter. Envestnet Asset Management Inc. now owns 7,760,864 shares of the company’s stock worth $1,529,744,000 after purchasing an additional 7,317,531 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Invesco NASDAQ 100 ETF by 10,544.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 4,016,689 shares of the company’s stock worth $7,917,000 after purchasing an additional 3,978,954 shares during the last quarter. National Mutual Insurance Federation of Agricultural Cooperatives grew its holdings in shares of Invesco NASDAQ 100 ETF by 260.2% during the third quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 2,370,000 shares of the company’s stock worth $476,014,000 after buying an additional 1,712,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Invesco NASDAQ 100 ETF by 19.8% in the second 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. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Invesco NASDAQ 100 ETF by 3.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,457,528 shares of the company’s stock worth $292,744,000 after buying an additional 45,946 shares in the last quarter.

Invesco NASDAQ 100 ETF Company Profile

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.