Principal Financial Group Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 62.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,119 shares of the exchange traded fund's stock after buying an additional 17,750 shares during the quarter. Principal Financial Group Inc.'s holdings in Invesco QQQ were worth $21,626,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter worth about $36,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.
Invesco QQQ Stock Up 0.7%
QQQ opened at $556.25 on Thursday. The stock's 50 day moving average price is $524.27 and its two-hundred day moving average price is $505.52. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.63.
Invesco QQQ Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.
About Invesco QQQ
(
Free Report)
PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.
Read More
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).
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