ING Groep NV decreased its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 27.3% during the second quarter, Holdings Channel reports. The firm owned 36,164 shares of the exchange traded fund’s stock after selling 13,547 shares during the period. ING Groep NV’s holdings in PowerShares QQQ Trust, Series 1 were worth $4,978,000 as of its most recent SEC filing.

A number of other institutional investors 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 valued at $1,660,443,000 after buying an additional 1,874,344 shares during the period. Bank of Nova Scotia raised its stake in PowerShares QQQ Trust, Series 1 by 2,479.8% in the first quarter. Bank of Nova Scotia now owns 1,029,923 shares of the exchange traded fund’s stock valued at $136,341,000 after buying an additional 990,000 shares during the period. 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 valued at $155,347,000 after buying an additional 700,400 shares during the period. AQR Capital Management LLC purchased a new stake in PowerShares QQQ Trust, Series 1 during the first quarter valued at about $78,292,000. Finally, Tower Research Capital LLC TRC raised its stake in PowerShares QQQ Trust, Series 1 by 930.1% in the first quarter. Tower Research Capital LLC TRC now owns 549,109 shares of the exchange traded fund’s stock valued at $72,691,000 after buying an additional 495,801 shares during the period. Institutional investors and hedge funds own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.76% during midday trading on Friday, hitting $142.10. 45,862,488 shares of the stock traded hands. The stock has a 50-day moving average of $141.65 and a 200 day moving average of $135.65. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96. PowerShares QQQ Trust, Series 1 also was the recipient of some unusual options trading activity on Thursday. Investors acquired 652,577 put options on the stock. This is an increase of approximately 125% compared to the typical daily volume of 289,958 put options.

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

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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 target price for the company 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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