Estate Counselors LLC decreased its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 20.6% during the second quarter, Holdings Channel reports. The firm owned 62,630 shares of the exchange traded fund’s stock after selling 16,280 shares during the period. PowerShares QQQ Trust, Series 1 makes up about 2.0% of Estate Counselors LLC’s holdings, making the stock its 21st largest position. Estate Counselors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $8,620,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in QQQ. Raymond James Trust N.A. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 6.8% in the first quarter. Raymond James Trust N.A. now owns 5,912 shares of the exchange traded fund’s stock valued at $782,000 after buying an additional 375 shares during the period. Parker Investment Management LLC raised its stake in shares of PowerShares QQQ Trust, Series 1 by 86.6% in the first quarter. Parker Investment Management LLC now owns 239,413 shares of the exchange traded fund’s stock valued at $31,693,000 after buying an additional 111,109 shares during the period. Bouchey Financial Group Ltd raised its stake in shares of PowerShares QQQ Trust, Series 1 by 10.9% in the first quarter. Bouchey Financial Group Ltd now owns 244,501 shares of the exchange traded fund’s stock valued at $32,367,000 after buying an additional 24,115 shares during the period. Dynamic Advisors Solutions LLC raised its stake in shares of PowerShares QQQ Trust, Series 1 by 81.3% in the first quarter. Dynamic Advisors Solutions LLC now owns 10,534 shares of the exchange traded fund’s stock valued at $1,395,000 after buying an additional 4,724 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 16.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,964 shares of the exchange traded fund’s stock valued at $657,000 after buying an additional 711 shares during the period. 39.25% of the stock is currently owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.121% during midday trading on Tuesday, reaching $144.735. The company had a trading volume of 7,267,941 shares. The company’s 50 day moving average is $140.84 and its 200-day moving average is $134.74. 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 declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a $0.3784 dividend. This is a positive change 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 annualized dividend and a 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 target price on the stock 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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