Cannon Advisors Inc. Sells 515 Shares of Invesco QQQ (NASDAQ:QQQ)

Cannon Advisors Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,936 shares of the exchange traded fund's stock after selling 515 shares during the quarter. Invesco QQQ accounts for approximately 9.0% of Cannon Advisors Inc.'s investment portfolio, making the stock its largest position. Cannon Advisors Inc.'s holdings in Invesco QQQ were worth $9,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baskin Financial Services Inc. lifted its holdings in Invesco QQQ by 4.9% during the 1st quarter. Baskin Financial Services Inc. now owns 1,151 shares of the exchange traded fund's stock worth $540,000 after buying an additional 54 shares during the period. Mainstream Capital Management LLC raised its position in shares of Invesco QQQ by 17.1% during the first quarter. Mainstream Capital Management LLC now owns 445 shares of the exchange traded fund's stock worth $209,000 after acquiring an additional 65 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Invesco QQQ by 1.6% during the first quarter. Physician Wealth Advisors Inc. now owns 4,691 shares of the exchange traded fund's stock worth $2,200,000 after acquiring an additional 72 shares during the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of Invesco QQQ by 16.7% in the first quarter. Pinnacle Financial Partners Inc now owns 27,306 shares of the exchange traded fund's stock worth $12,932,000 after acquiring an additional 3,906 shares during the period. Finally, Kanawha Capital Management LLC boosted its holdings in Invesco QQQ by 19.3% in the first quarter. Kanawha Capital Management LLC now owns 6,733 shares of the exchange traded fund's stock valued at $3,157,000 after acquiring an additional 1,089 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $550.80 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $552.80. The firm has a 50 day moving average price of $516.09 and a two-hundred day moving average price of $504.49.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

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.

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