Coastwise Capital Group LLC Has $1.49 Million Position in Invesco QQQ (NASDAQ:QQQ)

Coastwise Capital Group LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 25.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,058 shares of the exchange traded fund’s stock after purchasing an additional 627 shares during the quarter. Invesco QQQ makes up 1.2% of Coastwise Capital Group LLC’s holdings, making the stock its 21st largest position. Coastwise Capital Group LLC’s holdings in Invesco QQQ were worth $1,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter worth approximately $30,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares in the last quarter. PFG Private Wealth Management LLC increased its stake in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the last quarter. Legacy Bridge LLC raised its holdings in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Invesco QQQ in the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.9 %

Shares of NASDAQ:QQQ opened at $509.74 on Monday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The firm has a fifty day moving average price of $496.13 and a 200 day moving average price of $479.38.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.53%. The ex-dividend date was Monday, September 23rd.

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.