Gradient Investments LLC Raises Stake in PowerShares QQQ Trust, Series 1 (QQQ)

Gradient Investments LLC raised its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,639 shares of the exchange traded fund’s stock after buying an additional 21 shares during the period. Gradient Investments LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. raised its position in shares of PowerShares QQQ Trust, Series 1 by 16.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,964 shares of the exchange traded fund’s stock worth $657,000 after buying an additional 711 shares during the period. Dynamic Advisors Solutions LLC raised its position in shares of PowerShares QQQ Trust, Series 1 by 81.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 10,534 shares of the exchange traded fund’s stock worth $1,395,000 after buying an additional 4,724 shares during the period. Bouchey Financial Group Ltd raised its position in shares of PowerShares QQQ Trust, Series 1 by 10.9% in the first quarter. Bouchey Financial Group Ltd now owns 244,501 shares of the exchange traded fund’s stock worth $32,367,000 after buying an additional 24,115 shares during the period. Parker Investment Management LLC raised its position in shares of PowerShares QQQ Trust, Series 1 by 86.6% in the first quarter. Parker Investment Management LLC now owns 239,413 shares of the exchange traded fund’s stock worth $31,693,000 after buying an additional 111,109 shares during the period. Finally, Puplava Financial Services Inc. purchased a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth about $706,000. Institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) opened at 141.23 on Friday. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96. The stock’s 50 day moving average price is $142.15 and its 200-day moving average price is $136.28.

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were issued a dividend of $0.3784 per share. This is a boost 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%. The ex-dividend date was Friday, June 16th.

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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 objective on the stock 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.

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

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