Turtle Creek Wealth Advisors LLC Invests $292,000 in Invesco QQQ $QQQ

Key Points

• Turtle Creek Wealth Advisors LLC invested approximately $292,000 in 530 shares of Invesco QQQ during the 2nd quarter.
• Invesco QQQ recently raised its quarterly dividend to $0.694, an increase from the previous $0.59.
• Currently, 44.58% of Invesco QQQ's stock is owned by institutional investors, indicating strong institutional interest.

Turtle Creek Wealth Advisors LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 530 shares of the exchange traded fund's stock, valued at approximately $292,000.

A number of other large investors have also recently bought and sold shares of QQQ. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ in the 2nd quarter worth about $41,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Blume Capital Management Inc. raised its stake in shares of 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 acquiring an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its holdings in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $599.99 on Friday. The stock's 50 day simple moving average is $586.71 and its 200 day simple moving average is $539.38. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

Invesco QQQ Increases Dividend

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

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.

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