Principal Financial Group Inc. grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 62.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,119 shares of the exchange traded fund's stock after purchasing 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 institutional investors have also recently made changes to their positions in QQQ. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Price Performance
QQQ traded down $1.25 during trading on Friday, reaching $554.20. The stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,410,561. The stock's 50 day moving average is $527.06 and its two-hundred day moving average is $505.91. Invesco QQQ has a one year low of $402.39 and a one year high of $557.63.
Invesco QQQ Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a 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.
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