Cue Financial Group Inc. raised its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 24,769 shares of the exchange traded fund’s stock after buying an additional 921 shares during the period. PowerShares QQQ Trust, Series 1 makes up approximately 2.4% of Cue Financial Group Inc.’s investment portfolio, making the stock its 4th largest position. Cue Financial Group Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $3,409,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in QQQ. Mitchell Mcleod Pugh & Williams Inc. boosted its stake 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 worth $463,000 after buying an additional 1,186 shares during the period. Gradient Investments LLC boosted its stake in shares of 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 worth $214,000 after buying an additional 533 shares during the period. Capital Asset Advisory Services LLC boosted its stake in shares of 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 worth $438,000 after buying an additional 405 shares during the period. Regentatlantic Capital LLC boosted its stake in shares of 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 worth $684,000 after buying an additional 351 shares during the period. Finally, Ipswich Investment Management Co. Inc. boosted its stake in shares of 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 worth $767,000 after buying an additional 855 shares during the period. Institutional investors and hedge funds own 39.25% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.82% during midday trading on Friday, reaching $142.19. 26,269,433 shares of the company’s stock were exchanged. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96. The stock’s 50 day moving average price is $141.61 and its 200 day moving average price is $135.51. PowerShares QQQ Trust, Series 1 also was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 652,577 put options on the company. This is an increase of approximately 125% compared to the average volume of 289,958 put options.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were given a $0.3784 dividend. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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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 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.

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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