Northwestern Mutual Wealth Management Co. Buys 52,234 Shares of Invesco QQQ $QQQ

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Invesco QQQ by 1.7%, acquiring an additional 52,234 shares to hold a total of 3,201,107 shares, which constitute about 1.2% of its portfolio.
• Institutional ownership of Invesco QQQ is significant, with firms like Goldman Sachs increasing their stake by 959.6% and new investments from several others totaling multiple billions in value.
• Invesco QQQ recently cut its quarterly dividend to $0.5911 per share, reflecting an annualized dividend yield of 0.4% as of the last payment date.

Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,201,107 shares of the exchange traded fund's stock after purchasing an additional 52,234 shares during the quarter. Invesco QQQ makes up about 1.2% of Northwestern Mutual Wealth Management Co.'s portfolio, making the stock its 17th biggest holding. Northwestern Mutual Wealth Management Co. owned 0.51% of Invesco QQQ worth $1,501,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of QQQ. Goldman Sachs Group Inc. grew its stake in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ in the first quarter valued at approximately $2,775,904,000. NWI Management LP boosted its stake in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the period. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ during the 1st quarter worth approximately $474,600,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.5%

Shares of NASDAQ QQQ opened at $571.97 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The stock has a 50 day moving average of $557.92 and a 200-day moving average of $515.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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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