Cambridge Trust Co. held its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,717 shares of the exchange traded fund’s stock at the end of the second quarter. Cambridge Trust Co.’s holdings in PowerShares QQQ Trust, Series 1 were worth $374,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in PowerShares QQQ Trust, Series 1 by 17.6% in the first quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock valued at $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in PowerShares QQQ Trust, Series 1 by 3.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock valued at $484,337,000 after buying an additional 130,587 shares in the last quarter. Ameriprise Financial Inc. increased its position in PowerShares QQQ Trust, Series 1 by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 1,413,920 shares of the exchange traded fund’s stock valued at $186,652,000 after buying an additional 69,876 shares in the last quarter. US Bancorp DE increased its position in PowerShares QQQ Trust, Series 1 by 11.7% in the second quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock valued at $170,990,000 after buying an additional 130,266 shares in the last quarter. Finally, Quantitative Investment Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 148.0% in the first quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock valued at $155,347,000 after buying an additional 700,400 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.
PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 141.23 on Monday. The stock’s 50 day moving average price is $142.15 and its 200 day moving average price is $136.28. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were paid a dividend of $0.3784 per share. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.51 annualized dividend and a yield of 1.07%.
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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 target price on the stock in a research report 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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