Woodmont Investment Counsel LLC cut its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,508 shares of the exchange traded fund’s stock after selling 2,690 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $2,135,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of PowerShares QQQ Trust, Series 1 by 17.6% during the 1st quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock worth $1,660,443,000 after buying an additional 1,874,344 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its holdings in shares of PowerShares QQQ Trust, Series 1 by 3.9% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock worth $484,337,000 after buying an additional 130,587 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of PowerShares QQQ Trust, Series 1 by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,594,763 shares of the exchange traded fund’s stock worth $219,641,000 after buying an additional 180,843 shares during the last quarter. US Bancorp DE increased its holdings in shares of PowerShares QQQ Trust, Series 1 by 11.7% during the 2nd quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock worth $170,990,000 after buying an additional 130,266 shares during the last quarter. Finally, Quantitative Investment Management LLC increased its holdings in shares of PowerShares QQQ Trust, Series 1 by 148.0% during the 1st quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock worth $155,347,000 after buying an additional 700,400 shares during the last quarter. 50.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded down 0.41% during trading on Wednesday, hitting $145.20. 10,331,413 shares of the company were exchanged. The company has a 50-day moving average of $144.00 and a 200-day moving average of $138.84. PowerShares QQQ Trust, Series 1 has a 12 month low of $113.45 and a 12 month high of $146.59.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, September 19th will be given a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, September 18th.

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PowerShares QQQ Trust, Series 1 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.

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

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