The 1,490 Shares in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) Acquired by Buffington Mohr McNeal

The 1,490 Shares in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) Acquired by Buffington Mohr McNeal

Several other large investors also recently modified their holdings of QQQ. Morgan Stanley raised its position in shares of 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 valued at $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. Bank of Nova Scotia raised its position in shares of 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 valued at $136,341,000 after buying an additional 990,000 shares in the last quarter. Quantitative Investment Management LLC raised its position in shares of 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 valued at $155,347,000 after buying an additional 700,400 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $78,292,000. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 valued at $72,691,000 after buying an additional 495,801 shares in the last quarter. Hedge funds and other institutional investors own 39.25% of the company’s stock.

Buffington Mohr McNeal acquired a new position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,490 shares of the exchange traded fund’s stock, valued at approximately $205,000.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.12% on Tuesday, reaching $144.73. The company had a trading volume of 7,268,141 shares. The company has a 50 day moving average of $140.84 and a 200-day moving average of $134.74. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $145.96.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were issued a dividend of $0.3784 per share. This represents a $1.51 dividend on an annualized basis and a yield of 1.05%. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 16th.

Separately, Vetr raised PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 target price on the stock in a research report 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).

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