Coastal Bridge Advisors LLC Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Coastal Bridge Advisors LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,155 shares of the exchange traded fund’s stock after selling 117 shares during the period. Coastal Bridge Advisors LLC’s holdings in Invesco QQQ were worth $1,479,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Eagle Capital Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock valued at $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC lifted its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Invesco QQQ by 1.9% in the 4th quarter. Alliancebernstein L.P. now owns 91,693 shares of the exchange traded fund’s stock valued at $46,876,000 after purchasing an additional 1,686 shares in the last quarter. Finally, Nemes Rush Group LLC raised its stake in shares of Invesco QQQ by 59.6% in the 4th quarter. Nemes Rush Group LLC now owns 1,136 shares of the exchange traded fund’s stock valued at $581,000 after purchasing an additional 424 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.1%

Shares of NASDAQ:QQQ opened at $568.02 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $572.11. The firm has a 50-day simple moving average of $542.10 and a 200 day simple moving average of $509.98.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 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.