Short Interest in PowerShares QQQ Trust, Series 1 (QQQ) Grows By 5.3%

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) was the target of a significant increase in short interest during the month of July. As of July 14th, there was short interest totalling 64,098,411 shares, an increase of 5.3% from the June 30th total of 60,890,146 shares. Based on an average daily volume of 35,432,214 shares, the days-to-cover ratio is presently 1.8 days.

PowerShares QQQ Trust, Series 1 (QQQ) traded down 0.07% on Friday, reaching $141.23. 60,751,940 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $142.15 and its 200 day moving average price is $136.28. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were issued a $0.3784 dividend. This is an increase 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 dividend yield of 1.07%.

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 on the stock in a report on Tuesday, May 23rd.

Institutional investors have recently bought and sold shares of the company. WealthTrust Fairport LLC increased its position 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 during the last quarter. Maple Capital Management Inc. increased its position in PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 10 shares during the last quarter. United Asset Strategies Inc. increased its position in PowerShares QQQ Trust, Series 1 by 0.3% in the second quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock worth $725,000 after buying an additional 15 shares during the last quarter. Benchmark Capital Advisors increased its position in PowerShares QQQ Trust, Series 1 by 0.8% in the second quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock worth $264,000 after buying an additional 15 shares during the last quarter. Finally, HMS Capital Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. HMS Capital Management LLC now owns 3,491 shares of the exchange traded fund’s stock valued at $480,000 after buying an additional 19 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors.

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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.

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