Cambridge Trust Co. cut its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,717 shares of the exchange traded fund’s stock after selling 25 shares during the period. Cambridge Trust Co.’s holdings in PowerShares QQQ Trust, Series 1 were worth $359,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QQQ. Morgan Stanley raised its stake 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 worth $1,660,443,000 after buying an additional 1,874,344 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in PowerShares QQQ Trust, Series 1 by 2.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 3,388,278 shares of the exchange traded fund’s stock worth $448,540,000 after buying an additional 73,281 shares during the last quarter. Ameriprise Financial Inc. raised its stake 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 worth $186,652,000 after buying an additional 69,876 shares during the last quarter. Quantitative Investment Management LLC raised its stake 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 worth $155,347,000 after buying an additional 700,400 shares during the last quarter. Finally, US Bancorp DE raised its stake in PowerShares QQQ Trust, Series 1 by 4.6% in the first quarter. US Bancorp DE now owns 1,112,026 shares of the exchange traded fund’s stock worth $147,210,000 after buying an additional 48,629 shares during the last quarter. Hedge funds and other institutional investors own 35.12% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 144.40 on Wednesday. The stock has a 50 day moving average of $140.41 and a 200-day moving average of $133.35. PowerShares QQQ Trust, Series 1 has a 1-year low of $112.91 and a 1-year high of $144.74.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Tuesday, June 20th will be given 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 of this dividend is Friday, June 16th. This represents a $1.51 annualized dividend and a yield of 1.05%.

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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 objective on the stock 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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Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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