Parker Investment Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 7.0% during the second quarter, Holdings Channel reports. The fund owned 256,078 shares of the exchange traded fund’s stock after buying an additional 16,665 shares during the period. PowerShares QQQ Trust, Series 1 makes up 17.7% of Parker Investment Management LLC’s holdings, making the stock its 2nd largest position. Parker Investment Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $35,247,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cardan Capital Partners LLC raised its stake in PowerShares QQQ Trust, Series 1 by 7.9% in the second quarter. Cardan Capital Partners LLC now owns 56,034 shares of the exchange traded fund’s stock valued at $7,713,000 after buying an additional 4,082 shares in the last quarter. Buffington Mohr McNeal bought a new stake in PowerShares QQQ Trust, Series 1 during the second quarter valued at $205,000. Chevy Chase Trust Holdings Inc. bought a new stake in PowerShares QQQ Trust, Series 1 during the second quarter valued at $874,000. First Financial Corp IN raised its stake in PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock valued at $111,000 after buying an additional 530 shares in the last quarter. Finally, First United Bank Trust raised its stake in PowerShares QQQ Trust, Series 1 by 4.1% in the second quarter. First United Bank Trust now owns 45,916 shares of the exchange traded fund’s stock valued at $6,320,000 after buying an additional 1,795 shares in the last quarter. 39.25% of the stock is owned by hedge funds and other institutional investors.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded down 0.2634% during midday trading on Wednesday, hitting $143.9299. The stock had a trading volume of 22,692,442 shares. The stock’s 50-day moving average is $141.17 and its 200-day moving average is $134.93. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $145.96.

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were issued 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 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 objective for the company 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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