Wellington Shields Capital Management LLC reduced its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 23.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,035 shares of the exchange traded fund’s stock after selling 3,368 shares during the period. Wellington Shields Capital Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,519,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in PowerShares QQQ Trust, Series 1 by 17.6% in the first 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. Bank of Nova Scotia increased its stake in PowerShares QQQ Trust, Series 1 by 2,479.8% in the first quarter. Bank of Nova Scotia now owns 1,029,923 shares of the exchange traded fund’s stock worth $136,341,000 after buying an additional 990,000 shares during the last quarter. Quantitative Investment Management LLC increased its stake in PowerShares QQQ Trust, Series 1 by 148.0% in the first 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. AQR Capital Management LLC acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth about $78,292,000. Finally, Tower Research Capital LLC TRC increased its stake in PowerShares QQQ Trust, Series 1 by 930.1% in the first quarter. Tower Research Capital LLC TRC now owns 549,109 shares of the exchange traded fund’s stock worth $72,691,000 after buying an additional 495,801 shares during the last quarter. 39.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.76% during midday trading on Friday, hitting $142.10. 45,862,488 shares of the stock traded hands. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96. The company’s 50 day moving average price is $141.65 and its 200-day moving average price is $135.65. PowerShares QQQ Trust, Series 1 also was the target of unusually large options trading on Thursday. Traders bought 652,577 put options on the stock. This represents an increase of approximately 125% compared to the typical daily volume of 289,958 put options.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were issued a dividend of $0.3784 per share. This represents a $1.51 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, June 16th. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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Separately, Vetr raised 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.

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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