Coastal Bridge Advisors LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Coastal Bridge Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,736 shares of the exchange traded fund’s stock after purchasing an additional 347 shares during the period. Coastal Bridge Advisors LLC’s holdings in Invesco QQQ were worth $832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atwater Malick LLC purchased a new stake in Invesco QQQ during the first quarter worth $293,000. Westwood Holdings Group Inc. boosted its position in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares in the last quarter. GenWealth Group Inc. grew its stake in Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after acquiring an additional 2,325 shares during the last quarter. Socha Financial Group LLC grew its stake in Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after acquiring an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC raised its position in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after acquiring an additional 2,453 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.6 %

Shares of NASDAQ QQQ opened at $486.75 on Friday. The firm’s 50-day moving average is $468.10 and its two-hundred day moving average is $460.07. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, September 23rd.

About Invesco QQQ

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.