Principal Financial Group Inc. Has $3.86 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Principal Financial Group Inc. increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.7% during the second quarter, HoldingsChannel reports. The fund owned 8,048 shares of the exchange traded fund’s stock after acquiring an additional 363 shares during the quarter. Principal Financial Group Inc.’s holdings in Invesco QQQ were worth $3,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth about $28,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth about $29,000. Legacy Bridge LLC raised its holdings in shares of Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter worth about $35,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $458.66 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company’s 50-day moving average is $471.31 and its 200 day moving average is $456.60.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.66%.

About Invesco QQQ

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.