Pilgrim Partners Asia Pte Ltd Invests $19.36 Million in Invesco QQQ (NASDAQ:QQQ)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,870 shares of the exchange traded fund’s stock, valued at approximately $19,360,000. Invesco QQQ makes up 16.9% of Pilgrim Partners Asia Pte Ltd’s investment portfolio, making the stock its largest position.

A number of other institutional investors also recently bought and sold shares of QQQ. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Roxbury Financial LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $37,000. Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Invesco QQQ during the fourth quarter worth about $51,000. Finally, Perritt Capital Management Inc purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $61,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $422.67 on Friday. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The stock has a market cap of $268.12 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. The firm has a 50 day simple moving average of $501.45 and a 200-day simple moving average of $504.37.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.