Corsair Capital Management L.P. Purchases 15,000 Shares of Invesco QQQ (NASDAQ:QQQ)

Corsair Capital Management L.P. grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 166.7% in the 3rd quarter, Holdings Channel reports. The firm owned 24,000 shares of the exchange traded fund’s stock after acquiring an additional 15,000 shares during the quarter. Invesco QQQ accounts for about 2.8% of Corsair Capital Management L.P.’s portfolio, making the stock its 11th largest holding. Corsair Capital Management L.P.’s holdings in Invesco QQQ were worth $11,714,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the 2nd quarter valued at $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the 1st quarter valued at $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $508.20 on Wednesday. The company has a fifty day simple moving average of $494.46 and a 200 day simple moving average of $478.12. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 23rd.

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.