Ledyard National Bank Has $416,000 Stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Ledyard National Bank decreased its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 32.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,021 shares of the exchange traded fund’s stock after selling 1,425 shares during the period. Ledyard National Bank’s holdings in PowerShares QQQ Trust, Series 1 were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. WealthTrust Fairport LLC increased its position in shares of 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 valued at $277,000 after buying an additional 6 shares during the period. Quadrant Capital Group LLC increased its position in shares of 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 valued at $404,000 after buying an additional 20 shares during the period. Great Lakes Advisors LLC increased its position in shares of 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 valued at $602,000 after buying an additional 21 shares during the period. Stockman Wealth Management Inc. increased its position in shares of 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 valued at $744,000 after buying an additional 21 shares during the period. Finally, Osborne Partners Capital Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 1.2% in the first quarter. Osborne Partners Capital Management LLC now owns 3,495 shares of the exchange traded fund’s stock valued at $463,000 after buying an additional 40 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 141.23 on Friday. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $145.96. The company has a 50 day moving average of $142.15 and a 200 day moving average of $136.28.

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

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Separately, Vetr upgraded shares of 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.

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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