Invesco QQQ $QQQ Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group trimmed its Invesco QQQ position by 2.4% in the first quarter, selling 2,539 shares and leaving it with 104,237 shares worth about $60.2 million.
• Institutional ownership remains significant, with hedge funds and other investors continuing to add or adjust positions; overall, 44.58% of QQQ is held by institutions and hedge funds.
• QQQ recently raised its quarterly dividend to $0.8135 per share from $0.73, although the ETF also traded down 1.5% and was cited as facing pressure from weakness in chip and tech stocks.

Principal Financial Group Inc. reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,237 shares of the exchange traded fund's stock after selling 2,539 shares during the period. Principal Financial Group Inc.'s holdings in Invesco QQQ were worth $60,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the period. Jupiter Wealth Management LLC acquired a new stake in Invesco QQQ during the second quarter worth $290,000. Wealth Group Ltd. increased its stake in Invesco QQQ by 283.7% during the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund's stock worth $13,587,000 after acquiring an additional 18,210 shares during the last quarter. Finally, Invesco Ltd. raised its position in Invesco QQQ by 1,057.3% in the second quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund's stock valued at $18,239,000 after purchasing an additional 30,206 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.5%

Shares of Invesco QQQ stock opened at $695.33 on Friday. Invesco QQQ has a 52 week low of $551.68 and a 52 week high of $748.65. The business's fifty day simple moving average is $720.41 and its 200-day simple moving average is $653.13.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were issued a $0.8135 dividend. This is an increase from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd. This represents a $3.25 annualized dividend and a yield of 0.5%.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

Invesco QQQ Company Profile

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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