Cannon Capital Management Inc. Raises Holdings in Invesco QQQ $QQQ

Key Points

• Cannon Capital Management increased its Invesco QQQ stake by 7.4% in the first quarter, buying 2,204 more shares to bring its total to 32,026 shares worth about $18.5 million.
• Invesco QQQ remains Cannon Capital’s largest position, making up about 15% of the firm’s portfolio, while institutional ownership of the ETF stands at 44.58%.
• The ETF recently raised its quarterly dividend to $0.8135 from $0.73, though the article also notes mixed market sentiment, with some bullish views on AI and Nasdaq momentum and some concerns about stretched tech valuations and recession risks.

Cannon Capital Management Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,026 shares of the exchange traded fund's stock after purchasing an additional 2,204 shares during the period. Invesco QQQ accounts for about 15.0% of Cannon Capital Management Inc.'s portfolio, making the stock its biggest position. Cannon Capital Management Inc.'s holdings in Invesco QQQ were worth $18,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Legacy Wealth Managment LLC ID raised its stake in shares of Invesco QQQ by 15.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 1,306 shares of the exchange traded fund's stock valued at $754,000 after acquiring an additional 174 shares during the period. Beta Wealth Group Inc. boosted its stake in shares of Invesco QQQ by 6.0% during the 1st quarter. Beta Wealth Group Inc. now owns 1,028 shares of the exchange traded fund's stock worth $593,000 after purchasing an additional 58 shares during the period. Paul R. Ried Financial Group LLC bought a new position in Invesco QQQ during the 1st quarter valued at about $236,000. AlTi Global Inc. grew its holdings in Invesco QQQ by 7.9% during the 1st quarter. AlTi Global Inc. now owns 25,209 shares of the exchange traded fund's stock valued at $14,594,000 after purchasing an additional 1,842 shares during the last quarter. Finally, Earned Wealth Advisors LLC raised its position in Invesco QQQ by 50.9% in the 1st quarter. Earned Wealth Advisors LLC now owns 8,941 shares of the exchange traded fund's stock worth $5,160,000 after purchasing an additional 3,017 shares during the period. 44.58% of the stock is owned by institutional investors.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: Analysts highlighted improving market momentum and said the current rates-of-change still support the bull market, which is constructive for QQQ’s tech-heavy holdings. Improving Rates Of Change Support The Bull Market
• Positive Sentiment: Another article argued that AI capital spending and the upcoming earnings wave could continue to support hyperscalers and other large Nasdaq names, a bullish backdrop for QQQ. AI CapEx, Hyperscalers, And The Next Earnings Wave
• Neutral Sentiment: Invesco QQQ’s low-volatility ETF declared a monthly distribution, which is more relevant as a routine income update than as a major driver of the main QQQ fund. Invesco QQQ low volatility ETF declares monthly distribution of $0.0481
• Negative Sentiment: Some commentary warned that tech is showing warning signs and that valuations may be stretched, which could pressure QQQ if growth stocks cool off. An Extreme Energy Crack Spread And Two Warning Signs In Technology
• Negative Sentiment: Other reports said tariffs and inflation are pushing the economy toward a recession, a risk that could hurt risk assets and high-multiple tech shares. Tariffs And Inflation Are Pushing The Economy Toward A Recession
• Negative Sentiment: A market note warned that a large liquidity event could hit markets this week, creating volatility for QQQ’s major holdings. A $90 Billion Liquidity Storm May Hit Markets This Week
• Negative Sentiment: One article also compared the AI boom to the dot-com bust, reinforcing concern that tech enthusiasm may be running too hot. The AI Bubble Looks A Lot Like Dot-Com Bust

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $696.06 on Tuesday. Invesco QQQ has a 1 year low of $551.68 and a 1 year high of $748.65. The firm has a 50-day simple moving average of $720.06 and a two-hundred day simple moving average of $653.90.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a $0.8135 dividend. The ex-dividend date was Monday, June 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a dividend yield of 0.5%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.