Canal Capital Management LLC Decreases Stock Holdings in Invesco QQQ $QQQ

Canal Capital Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 52.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,246 shares of the exchange traded fund’s stock after selling 10,049 shares during the quarter. Canal Capital Management LLC’s holdings in Invesco QQQ were worth $5,101,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QQQ. Brighton Jones LLC grew its position in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after acquiring an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after purchasing an additional 176 shares during the period. Nuveen LLC bought a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $10,316,000. Russell Investments Group Ltd. lifted its position in Invesco QQQ by 42.7% in the first quarter. Russell Investments Group Ltd. now owns 4,093 shares of the exchange traded fund’s stock worth $1,919,000 after buying an additional 1,224 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Invesco QQQ in the first quarter valued at $212,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $613.62 on Monday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01. The firm has a 50-day moving average price of $613.64 and a 200-day moving average price of $581.01.

Invesco QQQ Increases Dividend

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

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.