Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

Covington Hires a Summer Intern

I am pleased to announce that we have hired Mr. Nick Allen to work as an intern this summer.  He will be assigned a number of projects for the company including various analyses, research projects and technology studies. Nick is a finance major at Indiana University of Pennsylvania (IUP) and is on track to graduate in December of this year.  His courses of study include finance, investment, economics and management.  Nick also serves as the Sector Leader of the Consumer Staples Section of the Student Managed Investment Portfolio organization at the college.  This student organization is quite successful as it currently has $1.7 million in assets under management and has outperformed the S&P 500 over the last five quarters.   In addition to his financial studies and experiences, Nick has worked in the computer labs for the IUP Libraries.  In this capacity he assists library employees and patrons with computer hardware...
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COVINGTON INVESTMENT ADVISORS FOUNDER AND PRESIDENT, PATRICK R. WALLACE, COMMENTS ON COMPANY’S FIFTEENTH ANNIVERSARY

Fifteen years ago today Covington Investment Advisors was incorporated.  The success we have had with and for our clients has allowed us to grow, hire more talent, continually enhance our technology, purchase our building, contribute to our communities’ societal needs, and expand our overall processes to customize your financial plans providing best in class investment management services and results. I do not hesitate to say we have formulated the best in class advisory firm as we are not a broker-dealer, nor are we affiliated with one.  As an independent advisor, we have an open architectural structure to find the best financial solutions for you.  We cut out all the unnecessary middlemen and their fees and we refuse any form of commissions.  We are an advisory fee-based only firm.  We do not sell products; we provide customized financial plans structured and managed on a separate account basis driven to address your...
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Covington Continues its Support of the Westmoreland Symphony Orchestra

On April 28, 2018, Covington Investment Advisors sponsored the Westmoreland Symphony Orchestra (WSO) Concert titled “Fauré Requiem”. At Covington, not only do we strive to meet our clients’ financial goals, we also focus on making a difference in our community.  Fostering creativity in our schools is the key to continued growth and success for children and Covington is passionate about helping our children. Recognizing the diminishing arts programs in our schools and the many societal challenges that we face, we have felt compelled to do something about that. And so, we have been underwriting music and art programs in our community through our business and family foundations, some of which are facilitated through the Westmoreland Symphony Orchestra. This year Covington Investment Advisors, Inc., through the WSO, has established an award to recognize the private music teachers in our community to give long overlooked recognition for their impact on our children...
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Volatility is Back

  Volatility is Back The past couple days have tested investors’ appetite for risk with a spike in market volatility which we haven’t seen since June 2016. The Chicago Board Options Exchange Volatility Index (VIX), a measure of market downside volatility, has spiked gaining 28.51% on Friday, February 2nd and 115.60% on Monday February 5th. Making the headlines are what’s on the other side of volatility; VelocityShares Daily Inverse VIX ETN (XIV) and the ProShares Short VIX ETF (SVXY), trading strategies that bet on rising but calm markets. Both trading strategies lost more than 80% of their value as volatility surged. These headlines create an opportunity for us to once again highlight the differences between these shorter-term trading products versus what Covington does, which is to invest long-term in proven enterprises. Our strategy has created attractive returns for our clients by owning good companies over long periods of time. A...
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Covington Investment Advisors, Inc. Welcomes Sarah E. Rovedatti

  Covington Investment Advisors, Inc. is pleased to announce that Sarah E. Rovedatti has joined our firm as Chief Compliance Officer. Sarah has over nine years’ experience working in the financial services industry holding various positions in client service and compliance. She is a graduate of Lycoming College with a B.A. in Business Administration and earned her MBA at Villanova University. Sarah will be responsible for maintaining, developing and monitoring the firm’s compliance program, ensuring that all activities of the firm meet regulatory requirements. She will also be acting as a liaison with legal and regulatory bodies on compliance-related issues.    
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148
Email: covington@covingtoninvestment.com