Cannon Capital Management Inc. Acquires 33,965 Shares of Invesco QQQ $QQQ

Cannon Capital Management Inc. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 33,965 shares of the exchange traded fund’s stock, valued at approximately $25,127,000. Invesco QQQ makes up 17.6% of Cannon Capital Management Inc.’s holdings, making the stock its largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC boosted its position in shares of Invesco QQQ by 0.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 44,491 shares of the exchange traded fund’s stock worth $32,913,000 after purchasing an additional 161 shares in the last quarter. Canvas Wealth Advisors LLC increased its position in Invesco QQQ by 83.0% during the 3rd quarter. Canvas Wealth Advisors LLC now owns 1,343 shares of the exchange traded fund’s stock valued at $961,000 after buying an additional 609 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new position in Invesco QQQ during the third quarter valued at $646,000. Calamos Wealth Management LLC raised its stake in Invesco QQQ by 3.2% during the third quarter. Calamos Wealth Management LLC now owns 23,714 shares of the exchange traded fund’s stock valued at $17,543,000 after buying an additional 728 shares during the last quarter. Finally, Sharper & Granite LLC boosted its holdings in Invesco QQQ by 32.3% in the third quarter. Sharper & Granite LLC now owns 8,690 shares of the exchange traded fund’s stock worth $6,429,000 after acquiring an additional 2,121 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Key Invesco QQQ News

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

• Positive Sentiment: QQQ rose as several technology stocks recovered, helping lift the Nasdaq-100. Why Is Invesco QQQ Trust Rising Today, Nov. 6?
• Positive Sentiment: Broad U.S. equity ETFs advanced after midday, providing a supportive market backdrop for QQQ. Exchange-Traded Funds Higher as US Equities Advance After Midday
• Positive Sentiment: QQQ added to its Apple and NVIDIA positions on Nov. 4, increasing exposure to two major index constituents, though the fund’s purchases are not a separate earnings catalyst. INVESCO QQQ (QQQ) Adds Apple and NVIDIA on Nov. 4
• Neutral Sentiment: October job growth exceeded expectations. A resilient economy may support company demand, but it could also keep interest rates higher, a potential headwind for growth-stock valuations. Exchange-Traded Funds Higher, Equity Futures Mixed as US October Jobs Rise More than Expected
• Negative Sentiment: Recent selling in AI and semiconductor stocks remains a risk for QQQ, given the index’s substantial technology exposure. QQQ and SMH sink as chip stocks have worst day since 2020
• Negative Sentiment: Ongoing concerns about AI-sector volatility and broader market headwinds could make the rebound fragile. Q4 QQQ Roadmap: Navigating AI Turbulence & Market Headwinds

Invesco QQQ Trading Up 1.4%

Invesco QQQ stock traded up $9.05 during mid-day trading on Friday, hitting $656.10. The company had a trading volume of 70,404,673 shares, compared to its average volume of 40,681,568. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $762.86. The stock’s 50 day moving average price is $720.97 and its two-hundred day moving average price is $680.33.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were given a $0.7514 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.01 annualized dividend and a dividend yield of 0.5%. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135.

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.