Coastline Trust Co Buys 1,542 Shares of Invesco QQQ $QQQ

Key Points

• Coastline Trust Co increased its stake in Invesco QQQ by 5.7%, acquiring 1,542 additional shares, making it the 16th largest holding in their investment portfolio valued at $15.9 million.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, reflecting a 0.5% yield, to be paid on October 31st.
• As of now, institutional investors hold 44.58% of Invesco QQQ's stock, illustrating significant institutional interest in the ETF.

Coastline Trust Co lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,798 shares of the exchange traded fund's stock after acquiring an additional 1,542 shares during the period. Invesco QQQ makes up about 1.8% of Coastline Trust Co's investment portfolio, making the stock its 16th largest holding. Coastline Trust Co's holdings in Invesco QQQ were worth $15,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Marshall & Sullivan Inc. WA bought a new position in Invesco QQQ in the second quarter valued at $41,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. grew its position in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its position in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.4%

Invesco QQQ stock opened at $595.97 on Monday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The company has a fifty day simple moving average of $576.04 and a 200 day simple moving average of $528.24.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.