Almanack Investment Partners LLC. purchased a new stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,640 shares of the exchange traded fund’s stock, valued at approximately $218,000.
Several other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its stake in PowerShares QQQ Trust, Series 1 by 4.1% in the fourth quarter. FMR LLC now owns 119,821 shares of the exchange traded fund’s stock valued at $14,196,000 after buying an additional 4,750 shares in the last quarter. Ibex Wealth Advisors purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at about $663,000. Baltimore Washington Financial Advisors Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 11.8% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 72,967 shares of the exchange traded fund’s stock valued at $8,645,000 after buying an additional 7,687 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 17.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 48,116 shares of the exchange traded fund’s stock valued at $5,701,000 after buying an additional 7,116 shares during the period. Finally, M Holdings Securities Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 157.0% in the fourth quarter. M Holdings Securities Inc. now owns 58,692 shares of the exchange traded fund’s stock valued at $6,954,000 after buying an additional 35,854 shares during the period. Institutional investors own 39.25% of the company’s stock.
PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 144.12 on Thursday. The company’s 50-day moving average price is $141.60 and its 200-day moving average price is $135.48. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $145.96.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were issued a $0.3784 dividend. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.05%.
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Separately, Vetr raised 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.
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.
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