Coastline Trust Co Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Coastline Trust Co acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the third quarter, HoldingsChannel reports. The firm acquired 24,677 shares of the exchange traded fund’s stock, valued at approximately $12,044,000. Invesco QQQ comprises about 1.4% of Coastline Trust Co’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC boosted its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in shares of Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 2.4 %

QQQ stock opened at $496.57 on Friday. The company has a fifty day moving average price of $489.33 and a 200 day moving average price of $474.11. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.