LifePlan Financial Group Inc cut its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,968 shares of the exchange traded fund’s stock after selling 108 shares during the period. LifePlan Financial Group Inc’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,097,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. River Wealth Advisors LLC raised its stake in PowerShares QQQ Trust, Series 1 by 4.0% in the second quarter. River Wealth Advisors LLC now owns 10,365 shares of the exchange traded fund’s stock worth $1,427,000 after buying an additional 400 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in PowerShares QQQ Trust, Series 1 by 29.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,464 shares of the exchange traded fund’s stock worth $201,000 after buying an additional 335 shares in the last quarter. Bessemer Group Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 2.5% in the second quarter. Bessemer Group Inc. now owns 17,396 shares of the exchange traded fund’s stock worth $2,394,000 after buying an additional 417 shares in the last quarter. Nwam LLC raised its stake in PowerShares QQQ Trust, Series 1 by 6.0% in the second quarter. Nwam LLC now owns 47,197 shares of the exchange traded fund’s stock worth $6,496,000 after buying an additional 2,679 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its stake in PowerShares QQQ Trust, Series 1 by 17.5% in the second quarter. Silicon Valley Capital Partners now owns 80,552 shares of the exchange traded fund’s stock worth $11,087,000 after buying an additional 12,026 shares in the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) opened at 141.33 on Friday. The company’s 50-day moving average is $142.04 and its 200-day moving average is $136.17. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96.

The firm also recently announced 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 represents a $1.51 annualized dividend and a dividend yield of 1.07%. 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.

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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 target for the company in a report on Tuesday, May 23rd.

About PowerShares QQQ Trust, Series 1

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.

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Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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