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

Coastline Trust Co purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,677 shares of the exchange traded fund's stock, valued at approximately $12,044,000. Invesco QQQ accounts for 1.4% of Coastline Trust Co's portfolio, making the stock its 17th biggest holding.

Several other large investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter worth about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $40,000. CGC Financial Services LLC grew its position in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund's stock worth $58,000 after buying 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 traded down $12.12 during trading on Friday, hitting $496.57. The company had a trading volume of 51,461,054 shares, compared to its average volume of 38,252,949. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58. The business has a 50-day moving average of $489.33 and a 200-day moving average of $474.11.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.