Canal Capital Management LLC Sells 5,201 Shares of Invesco QQQ (NASDAQ:QQQ)

Canal Capital Management LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,341 shares of the exchange traded fund's stock after selling 5,201 shares during the period. Invesco QQQ accounts for about 1.1% of Canal Capital Management LLC's portfolio, making the stock its 25th biggest holding. Canal Capital Management LLC's holdings in Invesco QQQ were worth $6,820,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its stake in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its holdings in shares of Invesco QQQ by 0.8% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,840,025 shares of the exchange traded fund's stock valued at $940,676,000 after purchasing an additional 13,772 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock traded up $10.75 during trading on Wednesday, hitting $455.23. 55,410,820 shares of the company's stock traded hands, compared to its average volume of 36,571,187. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The stock has a market capitalization of $291.30 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The business has a fifty day simple moving average of $477.15 and a 200 day simple moving average of $500.25.

Invesco QQQ Cuts Dividend

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