Burney Co. Sells 2,643 Shares of PowerShares QQQ Trust, Series 1 (QQQ)

Burney Co. reduced its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 45.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,236 shares of the exchange traded fund’s stock after selling 2,643 shares during the quarter. Burney Co.’s holdings in PowerShares QQQ Trust, Series 1 were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Berkshire Asset Management LLC PA acquired a new position in PowerShares QQQ Trust, Series 1 during the 4th quarter worth $236,000. Sterling Investment Management Inc. acquired a new position in PowerShares QQQ Trust, Series 1 during the 4th quarter worth $413,000. Benin Management CORP boosted its position in PowerShares QQQ Trust, Series 1 by 32.3% during the 4th quarter. Benin Management CORP now owns 3,314 shares of the exchange traded fund’s stock worth $516,000 after acquiring an additional 810 shares during the period. WealthTrust Arizona LLC boosted its position in PowerShares QQQ Trust, Series 1 by 24.9% during the 4th quarter. WealthTrust Arizona LLC now owns 58,503 shares of the exchange traded fund’s stock worth $9,112,000 after acquiring an additional 11,646 shares during the period. Finally, Syntal Capital Partners LLC acquired a new position in PowerShares QQQ Trust, Series 1 during the 4th quarter worth $523,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 opened at $168.33 on Friday, Marketbeat.com reports. PowerShares QQQ Trust, Series 1 has a 1 year low of $167.71 and a 1 year high of $168.96.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Tuesday, March 20th were given a dividend of $0.2766 per share. The ex-dividend date was Monday, March 19th. This represents a $1.11 dividend on an annualized basis and a yield of 0.66%.

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)

Receive News & Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit