Allianz SE Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Allianz SE bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, Holdings Channel reports. The institutional investor bought 106,858 shares of the exchange traded fund’s stock, valued at approximately $54,696,000. Invesco QQQ accounts for about 1.4% of Allianz SE’s holdings, making the stock its 13th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after buying an additional 2,059 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after purchasing an additional 11,351 shares in the last quarter. NRI Wealth Management LC bought a new position in Invesco QQQ in the fourth quarter valued at about $28,729,000. Garden State Investment Advisory Services LLC boosted its stake in shares of Invesco QQQ by 13.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC grew its holdings in shares of Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after purchasing an additional 6,518 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $468.94 on Friday. The business has a 50 day moving average of $508.43 and a 200-day moving average of $504.77. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81. The company has a market capitalization of $295.55 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

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.