Aviance Capital Partners LLC increased its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 7,794 shares of the exchange traded fund’s stock after buying an additional 796 shares during the period. Aviance Capital Partners LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,073,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forward Management LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 199.9% in the first quarter. Forward Management LLC now owns 363,388 shares of the exchange traded fund’s stock valued at $48,105,000 after buying an additional 242,208 shares in the last quarter. Main Street Research LLC acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $202,000. V Wealth Management LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 533.0% in the first quarter. V Wealth Management LLC now owns 21,762 shares of the exchange traded fund’s stock valued at $2,880,000 after buying an additional 18,324 shares in the last quarter. Wexford Capital LP increased its stake in shares of PowerShares QQQ Trust, Series 1 by 33.9% in the first quarter. Wexford Capital LP now owns 183,383 shares of the exchange traded fund’s stock valued at $24,276,000 after buying an additional 46,395 shares in the last quarter. Finally, FMR LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 6.0% in the first quarter. FMR LLC now owns 127,018 shares of the exchange traded fund’s stock valued at $16,815,000 after buying an additional 7,197 shares in the last quarter. Institutional investors own 39.25% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.76% during mid-day trading on Friday, reaching $142.10. The company’s stock had a trading volume of 45,862,488 shares. The firm’s 50 day moving average is $141.65 and its 200 day moving average is $135.65. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $145.96. PowerShares QQQ Trust, Series 1 also saw some unusual options trading activity on Thursday. Traders purchased 652,577 put options on the company. This represents an increase of 125% compared to the typical 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. The ex-dividend date of this dividend was Friday, June 16th. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 dividend on an annualized basis and a yield of 1.07%.

TRADEMARK VIOLATION NOTICE: This news story was posted by Daily Political and is owned by of Daily Political. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/13/aviance-capital-partners-llc-buys-796-shares-of-powershares-qqq-trust-series-1-nasdaqqqq.html.

Separately, Vetr upgraded PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 target price on the stock in a research note 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)

Receive News & Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related companies with MarketBeat.com's FREE daily email newsletter.