Mechanics Bank Trust Department decreased its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,265 shares of the exchange traded fund’s stock after selling 850 shares during the period. Mechanics Bank Trust Department’s holdings in PowerShares QQQ Trust, Series 1 were worth $2,377,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Financial Corp IN increased its stake in PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock worth $111,000 after buying an additional 530 shares in the last quarter. Bartlett & Co. LLC increased its stake in PowerShares QQQ Trust, Series 1 by 29.1% in the first quarter. Bartlett & Co. LLC now owns 937 shares of the exchange traded fund’s stock worth $124,000 after buying an additional 211 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth $125,000. Botty Investors LLC acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth $132,000. Finally, Hartford Financial Management Inc. acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth $139,000. Hedge funds and other institutional investors own 39.25% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.76% on Friday, hitting $142.10. The company’s stock had a trading volume of 45,862,488 shares. The stock’s 50-day moving average price is $141.65 and its 200-day moving average price is $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 on Thursday. Investors bought 652,577 put options on the company. This is an increase of approximately 125% compared to the average daily volume of 289,958 put options.

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

TRADEMARK VIOLATION WARNING: This piece of content was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/13/mechanics-bank-trust-department-sells-850-shares-of-powershares-qqq-trust-series-1-nasdaqqqq.html.

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 target 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.