PVG Asset Management Corp Invests $677,000 in Invesco QQQ (NASDAQ:QQQ)

PVG Asset Management Corp bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,414 shares of the exchange traded fund’s stock, valued at approximately $677,000. Invesco QQQ accounts for about 2.7% of PVG Asset Management Corp’s investment portfolio, making the stock its 11th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ during the first quarter valued at $29,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the 4th quarter worth about $35,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $40,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $488.07 on Tuesday. The stock’s 50 day simple moving average is $468.22 and its 200 day simple moving average is $460.55. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 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.