Smart Portfolios LLC Has $197,000 Position in PowerShares QQQ Trust, Series 1 (QQQ)

Smart Portfolios LLC cut its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 95.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,431 shares of the exchange traded fund’s stock after selling 31,776 shares during the period. PowerShares QQQ Trust, Series 1 comprises 0.2% of Smart Portfolios LLC’s portfolio, making the stock its 19th largest position. Smart Portfolios LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley increased its position in shares of PowerShares QQQ Trust, Series 1 by 17.6% in the first quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock valued at $1,660,443,000 after buying an additional 1,874,344 shares during the period. CHURCHILL MANAGEMENT Corp increased its position in shares of PowerShares QQQ Trust, Series 1 by 3.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock valued at $484,337,000 after buying an additional 130,587 shares during the period. Ameriprise Financial Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 1,413,920 shares of the exchange traded fund’s stock valued at $186,652,000 after buying an additional 69,876 shares during the period. US Bancorp DE increased its position in shares of PowerShares QQQ Trust, Series 1 by 11.7% in the second quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock valued at $170,990,000 after buying an additional 130,266 shares during the period. Finally, Quantitative Investment Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 148.0% in the first quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock valued at $155,347,000 after buying an additional 700,400 shares during the period. Institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 141.33 on Friday. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96. The stock’s 50 day moving average price is $142.04 and its 200-day moving average price is $136.17.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were paid a $0.3784 dividend. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.51 dividend on an annualized basis 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 for the company in a report on Tuesday, May 23rd.

PowerShares QQQ Trust, Series 1 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.

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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