Canal Capital Management LLC Purchases New Position in Invesco QQQ Trust (QQQ)

Canal Capital Management LLC purchased a new stake in Invesco QQQ Trust (NASDAQ:QQQ) during the 4th quarter, Holdings Channel reports. The firm purchased 1,630 shares of the exchange traded fund’s stock, valued at approximately $251,000.

A number of other hedge funds have also modified their holdings of the business. Morgan Stanley increased its stake in Invesco QQQ Trust by 31.9% in the 3rd quarter. Morgan Stanley now owns 18,007,827 shares of the exchange traded fund’s stock valued at $3,345,675,000 after buying an additional 4,353,877 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Invesco QQQ Trust by 2,211.8% during the 3rd quarter. Toronto Dominion Bank now owns 4,693,000 shares of the exchange traded fund’s stock worth $871,915,000 after purchasing an additional 4,490,000 shares during the last quarter. Banque Pictet & Cie SA increased its stake in shares of Invesco QQQ Trust by 569.1% during the 4th quarter. Banque Pictet & Cie SA now owns 3,159,757 shares of the exchange traded fund’s stock worth $487,424,000 after purchasing an additional 2,687,482 shares during the last quarter. Pictet North America Advisors SA increased its stake in shares of Invesco QQQ Trust by 14,018.3% during the 4th quarter. Pictet North America Advisors SA now owns 3,041,795 shares of the exchange traded fund’s stock worth $469,227,000 after purchasing an additional 3,020,250 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco QQQ Trust by 9.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,614,932 shares of the exchange traded fund’s stock worth $300,053,000 after purchasing an additional 137,494 shares during the last quarter. Hedge funds and other institutional investors own 41.49% of the company’s stock.

Separately, Bank of America lowered shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research note on Monday, November 5th.

Invesco QQQ Trust stock opened at $168.56 on Monday. Invesco QQQ Trust has a fifty-two week low of $143.46 and a fifty-two week high of $187.53.

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Invesco QQQ Trust 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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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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