Parametric Portfolio Associates LLC Has $2.25 Million Stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Parametric Portfolio Associates LLC raised its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 132.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,002 shares of the exchange traded fund’s stock after buying an additional 9,685 shares during the period. Parametric Portfolio Associates LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $2,251,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of QQQ. WESPAC Advisors LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $2,559,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 23.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,103 shares of the exchange traded fund’s stock valued at $278,000 after buying an additional 404 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 1,413,920 shares of the exchange traded fund’s stock valued at $186,652,000 after buying an additional 69,876 shares in the last quarter. Coyle Financial Counsel LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $4,078,000. Finally, Boston Family Office LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 4.6% in the first quarter. Boston Family Office LLC now owns 44,766 shares of the exchange traded fund’s stock valued at $5,926,000 after buying an additional 1,975 shares in the last quarter. 36.69% of the stock is owned by institutional investors.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 137.76 on Monday. The stock’s 50 day moving average is $140.10 and its 200 day moving average is $131.32. PowerShares QQQ Trust, Series 1 has a 52 week low of $109.02 and a 52 week high of $143.90.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th will be issued a dividend of $0.3784 per share. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, June 16th. This represents a $1.51 annualized dividend and a dividend yield of 1.10%.

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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 for the company 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)

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