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

Canal Capital Management LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,341 shares of the exchange traded fund’s stock after selling 5,201 shares during the period. Invesco QQQ comprises about 1.1% of Canal Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Canal Capital Management LLC’s holdings in Invesco QQQ were worth $6,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in shares of Invesco QQQ by 51,292.3% during the 4th 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 acquiring an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $679,936,000. Artemis Wealth Advisors LLC increased its stake in shares of Invesco QQQ by 1,337.4% during the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after purchasing an additional 895,277 shares during the period. Finally, Norinchukin Bank The acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $210,116,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $443.82 on Monday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The stock has a fifty day moving average price of $482.54 and a 200-day moving average price of $501.33. The company has a market cap of $283.45 billion, a price-to-earnings ratio of 28.58 and a beta of 1.18.

Invesco QQQ Cuts Dividend

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

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.