PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) is Lowe Wealth Advisors LLC’s 3rd Largest Position

Lowe Wealth Advisors LLC reduced its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,422 shares of the exchange traded fund’s stock after selling 486 shares during the period. PowerShares QQQ Trust, Series 1 accounts for about 10.6% of Lowe Wealth Advisors LLC’s holdings, making the stock its 3rd largest position. Lowe Wealth Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $16,575,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 196.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 13,447 shares of the exchange traded fund’s stock valued at $1,837,000 after buying an additional 8,907 shares during the period. Parker Investment Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 7.0% in the second quarter. Parker Investment Management LLC now owns 256,078 shares of the exchange traded fund’s stock valued at $35,247,000 after buying an additional 16,665 shares during the period. Cardan Capital Partners LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 7.9% in the second quarter. Cardan Capital Partners LLC now owns 56,034 shares of the exchange traded fund’s stock valued at $7,713,000 after buying an additional 4,082 shares during the period. Buffington Mohr McNeal purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the second quarter valued at approximately $205,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the second quarter valued at approximately $874,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.06% on Monday, hitting $142.20. The company’s stock had a trading volume of 20,787,076 shares. PowerShares QQQ Trust, Series 1 has a 52 week low of $111.55 and a 52 week high of $143.90. The stock’s 50-day moving average price is $140.10 and its 200-day moving average price is $131.32.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th will be given a dividend of $0.3784 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, June 16th.

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Separately, Vetr raised PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 target price for the company in a research report on Tuesday, May 23rd.

About PowerShares QQQ Trust, Series 1

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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