Wooster Corthell Wealth Management Inc. lowered its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 2,360 shares of the exchange traded fund’s stock after selling 70 shares during the period. PowerShares QQQ Trust, Series 1 accounts for 0.2% of Wooster Corthell Wealth Management Inc.’s investment portfolio, making the stock its 27th largest position. Wooster Corthell Wealth Management Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SPC Financial Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 7.4% in the second quarter. SPC Financial Inc. now owns 50,408 shares of the exchange traded fund’s stock worth $6,938,000 after buying an additional 3,457 shares in the last quarter. American Economic Planning Group Inc. ADV bought a new stake in PowerShares QQQ Trust, Series 1 during the second quarter worth about $262,000. Regentatlantic Capital LLC raised its stake in PowerShares QQQ Trust, Series 1 by 2.1% in the second quarter. Regentatlantic Capital LLC now owns 5,274 shares of the exchange traded fund’s stock worth $726,000 after buying an additional 111 shares in the last quarter. First Midwest Bank Trust Division bought a new stake in PowerShares QQQ Trust, Series 1 during the second quarter worth about $202,000. Finally, Cue Financial Group Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 3.9% in the second quarter. Cue Financial Group Inc. now owns 24,769 shares of the exchange traded fund’s stock worth $3,409,000 after buying an additional 921 shares in the last quarter. Institutional investors own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.76% during midday trading on Friday, reaching $142.10. The company’s stock had a trading volume of 45,862,488 shares. The company 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 1-year low of $113.45 and a 1-year high of $145.96. PowerShares QQQ Trust, Series 1 also saw unusually large options trading on Thursday. Stock investors acquired 652,577 put options on the stock. This is an increase of approximately 125% compared to the average daily volume of 289,958 put options.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were given a $0.3784 dividend. This is an increase 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 1.07%.

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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 target on the stock in a research 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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