PowerShares QQQ Trust, Series 1 (QQQ) Position Cut by Parker Investment Management LLC

Parker Investment Management LLC decreased its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 16.5% in the fourth quarter, Holdings Channel reports. The firm owned 252,792 shares of the exchange traded fund’s stock after selling 49,975 shares during the period. PowerShares QQQ Trust, Series 1 comprises 14.4% of Parker Investment Management LLC’s holdings, making the stock its 2nd largest holding. Parker Investment Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $39,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Schwab Charles Investment Management Inc. boosted its position in PowerShares QQQ Trust, Series 1 by 82.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 4,287 shares of the exchange traded fund’s stock valued at $591,000 after purchasing an additional 1,937 shares during the last quarter. Eaton Vance Management boosted its position in PowerShares QQQ Trust, Series 1 by 6.4% during the second quarter. Eaton Vance Management now owns 5,823 shares of the exchange traded fund’s stock valued at $801,000 after purchasing an additional 350 shares during the last quarter. AXA acquired a new stake in PowerShares QQQ Trust, Series 1 during the second quarter valued at $1,703,000. Jacobi Capital Management LLC boosted its position in PowerShares QQQ Trust, Series 1 by 124.5% during the second quarter. Jacobi Capital Management LLC now owns 6,305 shares of the exchange traded fund’s stock valued at $874,000 after purchasing an additional 3,496 shares during the last quarter. Finally, Jackson Wealth Management LLC boosted its position in PowerShares QQQ Trust, Series 1 by 2.7% during the second quarter. Jackson Wealth Management LLC now owns 63,965 shares of the exchange traded fund’s stock valued at $9,183,000 after purchasing an additional 1,656 shares during the last quarter. 39.36% of the stock is owned by hedge funds and other institutional investors.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up $1.11 on Friday, reaching $163.29. The company had a trading volume of 20,473,500 shares, compared to its average volume of 27,016,000. PowerShares QQQ Trust, Series 1 has a 52-week low of $121.60 and a 52-week high of $163.30.

The company also recently disclosed 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 is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 18th. This represents a $1.32 dividend on an annualized basis and a yield of 0.81%.

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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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