Cpcm LLC boosted its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 104.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,433 shares of the exchange traded fund’s stock after buying an additional 3,795 shares during the period. Cpcm LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $984,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthTrust Fairport LLC boosted its stake 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 period. Quadrant Capital Group LLC boosted its stake in 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 valued at $404,000 after buying an additional 20 shares during the period. Great Lakes Advisors LLC boosted its stake in 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 valued at $602,000 after buying an additional 21 shares during the period. Stockman Wealth Management Inc. boosted its stake in 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 valued at $744,000 after buying an additional 21 shares during the period. Finally, Renaissance Investment Group LLC boosted its stake in 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 valued at $258,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 39.25% of the company’s stock.
PowerShares QQQ Trust, Series 1 (QQQ) traded down 0.18% during mid-day trading on Wednesday, reaching $144.05. 22,376,632 shares of the company traded hands. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96. The company’s 50 day moving average price is $141.17 and its 200 day moving average price is $134.93.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were given a dividend of $0.3784 per share. The ex-dividend date was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a yield of 1.05%. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.
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Separately, Vetr upgraded shares of PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target on the stock in a report 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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