Proficio Capital Partners LLC continued to hold its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the exchange traded fund’s stock at the end of the first quarter. Proficio Capital Partners LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $175,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings 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 valued at $277,000 after buying an additional 6 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 3,080 shares of the exchange traded fund’s stock worth $404,000 after buying an additional 20 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 4,549 shares of the exchange traded fund’s stock worth $602,000 after buying an additional 21 shares in the last quarter. Stockman Wealth Management Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.4% in the first quarter. Stockman Wealth Management Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $744,000 after buying an additional 21 shares in the last quarter. Finally, Renaissance Investment Group LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 1.2% in the first quarter. Renaissance Investment Group LLC now owns 1,950 shares of the exchange traded fund’s stock worth $258,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 35.87% of the company’s stock.
PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.18% during mid-day trading on Friday, hitting $143.65. 29,472,909 shares of the stock traded hands. The company’s 50 day moving average price is $140.84 and its 200-day moving average price is $134.74. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $145.96.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were paid a $0.3784 dividend. This represents a $1.51 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, June 16th. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.
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Separately, Vetr raised shares of PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target for the company in a research note on Tuesday, May 23rd.
About PowerShares QQQ Trust, Series 1
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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