Lowe Wealth Advisors LLC Sells 486 Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Lowe Wealth Advisors LLC cut its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 portfolio, making the stock its 3rd largest position. Lowe Wealth Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $16,575,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. WealthTrust Fairport LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 6 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 3,080 shares of the exchange traded fund’s stock worth $404,000 after buying an additional 20 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 4,549 shares of the exchange traded fund’s stock worth $602,000 after buying an additional 21 shares in the last quarter. Stockman Wealth Management Inc. boosted its stake in PowerShares QQQ Trust, Series 1 by 0.4% in the first quarter. Stockman Wealth Management Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $744,000 after buying an additional 21 shares in the last quarter. Finally, Renaissance Investment Group LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 1.2% in the first quarter. Renaissance Investment Group LLC now owns 1,950 shares of the exchange traded fund’s stock worth $258,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 39.25% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) opened at 142.10 on Friday. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $145.96. The firm has a 50-day moving average price of $141.65 and a 200-day moving average price of $135.65. PowerShares QQQ Trust, Series 1 also was the target of some unusual options trading activity on Thursday. Traders purchased 652,577 put options on the stock. This represents an increase of 125% compared to the average daily volume of 289,958 put options.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were paid a dividend of $0.3784 per share. The ex-dividend date was Friday, June 16th. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 annualized dividend and a yield of 1.07%.

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Separately, Vetr upgraded PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target on the stock in a research note 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.

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

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