Canal Capital Management LLC Increases Holdings in Invesco QQQ $QQQ

Canal Capital Management LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 347.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 54,306 shares of the exchange traded fund’s stock after buying an additional 42,163 shares during the quarter. Invesco QQQ accounts for about 4.2% of Canal Capital Management LLC’s holdings, making the stock its 3rd largest position. Canal Capital Management LLC’s holdings in Invesco QQQ were worth $31,344,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after buying an additional 20,852,432 shares in the last quarter. Bank of America Corp DE increased its holdings in Invesco QQQ by 381.0% in the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after acquiring an additional 26,505,055 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Invesco QQQ by 11.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock worth $2,179,321,000 after acquiring an additional 375,581 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Invesco QQQ by 21.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock worth $1,858,288,000 after acquiring an additional 534,000 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. raised its stake in Invesco QQQ by 68.6% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund’s stock worth $1,075,091,000 after acquiring an additional 712,026 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.1%

Shares of NASDAQ:QQQ opened at $713.61 on Friday. Invesco QQQ has a 1-year low of $549.58 and a 1-year high of $748.65. The firm’s 50 day simple moving average is $712.54 and its two-hundred day simple moving average is $646.26.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be paid a dividend of $0.8135 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Weaker-than-expected June jobs data helped cool rate-hike fears, which is generally supportive for growth stocks and the Nasdaq-100 holdings that dominate QQQ. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
• Positive Sentiment: Market commentary says the Nasdaq sell-off may have created a buying opportunity for QQQ after a weak first half for some of America’s biggest growth names. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
• Positive Sentiment: Reports that stocks and Nasdaq futures were holding up ahead of the payroll release suggest investors remain willing to stay in or add to large-cap tech exposure through QQQ. S&P 500, Nasdaq Futures Climb While Dow Futures Fall Ahead Of Key Jobs Report: META, MU, JACK, CEG Stocks In Focus

Invesco QQQ 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.