Cambridge Advisors Inc. held its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, Holdings Channel reports. The fund owned 4,437 shares of the exchange traded fund’s stock at the end of the second quarter. Cambridge Advisors Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $611,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QQQ. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 51.2% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,501 shares of the exchange traded fund’s stock valued at $463,000 after buying an additional 1,186 shares during the last quarter. Gradient Investments LLC increased its stake in PowerShares QQQ Trust, Series 1 by 49.1% in the first quarter. Gradient Investments LLC now owns 1,618 shares of the exchange traded fund’s stock valued at $214,000 after buying an additional 533 shares during the last quarter. Capital Asset Advisory Services LLC increased its stake in PowerShares QQQ Trust, Series 1 by 13.9% in the first quarter. Capital Asset Advisory Services LLC now owns 3,309 shares of the exchange traded fund’s stock valued at $438,000 after buying an additional 405 shares during the last quarter. Regentatlantic Capital LLC increased its stake in PowerShares QQQ Trust, Series 1 by 7.3% in the first quarter. Regentatlantic Capital LLC now owns 5,163 shares of the exchange traded fund’s stock valued at $684,000 after buying an additional 351 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its stake in PowerShares QQQ Trust, Series 1 by 17.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 5,795 shares of the exchange traded fund’s stock valued at $767,000 after buying an additional 855 shares during the last quarter. Hedge funds and other institutional investors own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.691% during midday trading on Friday, reaching $142.005. The company had a trading volume of 26,992,913 shares. The firm has a 50-day moving average of $141.61 and a 200 day moving average of $135.51. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $145.96. PowerShares QQQ Trust, Series 1 also saw some unusual options trading on Thursday. Investors purchased 652,577 put options on the stock. This is an increase of 125% compared to the average volume of 289,958 put options.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were given a dividend of $0.3784 per share. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, June 16th.

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Separately, Vetr upgraded 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 report 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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