PowerShares QQQ Trust, Series 1 (QQQ) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its holdings in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,896 shares of the exchange traded fund’s stock after selling 960 shares during the quarter. PowerShares QQQ Trust, Series 1 comprises approximately 5.8% of Meridian Wealth Management LLC’s investment portfolio, making the stock its largest holding. Meridian Wealth Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $9,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of QQQ. Morgan Stanley raised its stake in shares of PowerShares QQQ Trust, Series 1 by 17.6% during the 1st quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock worth $1,660,443,000 after purchasing an additional 1,874,344 shares during the period. CHURCHILL MANAGEMENT Corp raised its stake in shares of PowerShares QQQ Trust, Series 1 by 3.9% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock worth $484,337,000 after purchasing an additional 130,587 shares during the period. Ameriprise Financial Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,594,763 shares of the exchange traded fund’s stock worth $219,641,000 after purchasing an additional 180,843 shares during the period. US Bancorp DE raised its stake in shares of PowerShares QQQ Trust, Series 1 by 11.7% during the 2nd quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock worth $170,990,000 after purchasing an additional 130,266 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,170,554 shares of the exchange traded fund’s stock worth $161,115,000 after purchasing an additional 86,838 shares during the period. 51.85% of the stock is owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (QQQ) traded up $1.46 during midday trading on Friday, hitting $153.27. The stock had a trading volume of 26,199,249 shares, compared to its average volume of 25,229,176. PowerShares QQQ Trust, Series 1 has a 12 month low of $113.45 and a 12 month high of $153.29.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, September 19th were paid a dividend of $0.3194 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.28 annualized dividend and a yield of 0.83%.

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PowerShares QQQ Trust, Series 1 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.

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

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