Benin Management CORP Has $12.01 Million Position in Invesco QQQ (NASDAQ:QQQ)

Benin Management CORP cut its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,603 shares of the exchange traded fund’s stock after selling 197 shares during the quarter. Invesco QQQ comprises approximately 3.4% of Benin Management CORP’s holdings, making the stock its 5th biggest position. Benin Management CORP’s holdings in Invesco QQQ were worth $12,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. PayPay Securities Corp raised its holdings in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth $51,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.8%

Shares of Invesco QQQ stock opened at $527.30 on Wednesday. The company has a 50 day moving average of $479.75 and a 200-day moving average of $501.34. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The company has a market cap of $338.97 billion, a PE ratio of 32.66 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was 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.