Cannon Advisors Inc. Has $8.85 Million Stock Holdings in Invesco QQQ $QQQ

Cannon Advisors Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 23.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,034 shares of the exchange traded fund’s stock after selling 4,902 shares during the quarter. Invesco QQQ accounts for approximately 7.1% of Cannon Advisors Inc.’s holdings, making the stock its largest holding. Cannon Advisors Inc.’s holdings in Invesco QQQ were worth $8,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Compass Financial Services Inc grew its position in shares of Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after purchasing an additional 19 shares during the period. Vermillion Wealth Management Inc. raised its holdings in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after buying an additional 20 shares during the period. Barrett & Company Inc. lifted its stake in Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after buying an additional 20 shares in the last quarter. waypoint wealth counsel boosted its holdings in shares of Invesco QQQ by 0.6% in the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock valued at $1,964,000 after buying an additional 20 shares during the period. Finally, Investment Advisory Group LLC boosted its holdings in shares of Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock valued at $3,158,000 after buying an additional 20 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $608.86 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01. The firm has a fifty day moving average of $605.86 and a 200-day moving average of $565.19.

Invesco QQQ Increases Dividend

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

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.