Train Babcock Advisors LLC Invests $7.25 Million in PowerShares QQQ Trust, Series 1 (QQQ)

Train Babcock Advisors LLC acquired a new stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 46,549 shares of the exchange traded fund’s stock, valued at approximately $7,251,000. PowerShares QQQ Trust, Series 1 accounts for about 3.2% of Train Babcock Advisors LLC’s portfolio, making the stock its 5th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in PowerShares QQQ Trust, Series 1 by 82.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,287 shares of the exchange traded fund’s stock worth $591,000 after acquiring an additional 1,937 shares during the last quarter. Shoker Investment Counsel Inc. bought a new position in PowerShares QQQ Trust, Series 1 during the 2nd quarter worth approximately $300,000. Freestone Capital Holdings LLC grew its position in PowerShares QQQ Trust, Series 1 by 42.6% during the 2nd quarter. Freestone Capital Holdings LLC now owns 3,343 shares of the exchange traded fund’s stock worth $460,000 after acquiring an additional 998 shares during the last quarter. Empirical Financial Services LLC grew its position in PowerShares QQQ Trust, Series 1 by 2.5% during the 2nd quarter. Empirical Financial Services LLC now owns 4,963 shares of the exchange traded fund’s stock worth $683,000 after acquiring an additional 123 shares during the last quarter. Finally, WESPAC Advisors LLC grew its position in PowerShares QQQ Trust, Series 1 by 58.3% during the 2nd quarter. WESPAC Advisors LLC now owns 30,590 shares of the exchange traded fund’s stock worth $4,210,000 after acquiring an additional 11,262 shares during the last quarter. Hedge funds and other institutional investors own 39.36% of the company’s stock.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded down $0.63 on Wednesday, reaching $161.93. The company had a trading volume of 18,750,000 shares, compared to its average volume of 32,020,000. PowerShares QQQ Trust, Series 1 has a fifty-two week low of $121.60 and a fifty-two week high of $163.04.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were given a dividend of $0.3294 per share. This represents a $1.32 annualized dividend and a yield of 0.81%. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 18th.

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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.

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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