Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Invesco QQQ $QQQ

Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,223,327 shares of the exchange traded fund’s stock after buying an additional 22,220 shares during the period. Invesco QQQ makes up 1.3% of Northwestern Mutual Wealth Management Co.’s portfolio, making the stock its 15th largest holding. Northwestern Mutual Wealth Management Co. owned approximately 0.51% of Invesco QQQ worth $1,778,116,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Invesco QQQ by 959.6% during 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 acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the first quarter valued at $2,775,904,000. Symphony Financial Ltd. Co. bought a new stake in shares of Invesco QQQ in the 2nd quarter worth about $1,236,482,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Invesco QQQ by 42.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock worth $2,700,424,000 after purchasing an additional 1,457,109 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $614.27 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01. The company’s 50-day moving average is $608.64 and its 200 day moving average is $572.00.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were paid a dividend of $0.694 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.