3EDGE Asset Management LP acquired a new position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, Holdings Channel reports. The institutional investor acquired 469,500 shares of the exchange traded fund’s stock, valued at approximately $64,616,000. PowerShares QQQ Trust, Series 1 makes up 9.7% of 3EDGE Asset Management LP’s portfolio, making the stock its 3rd largest position.

A number of other institutional investors have also recently bought and sold shares of the company. WealthTrust Fairport LLC increased its position in PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 10 shares in the last quarter. Great Lakes Advisors LLC increased its position in PowerShares QQQ Trust, Series 1 by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 4,549 shares of the exchange traded fund’s stock worth $602,000 after buying an additional 21 shares in the last quarter. Stockman Wealth Management Inc. increased its position in PowerShares QQQ Trust, Series 1 by 0.4% in the first quarter. Stockman Wealth Management Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $744,000 after buying an additional 21 shares in the last quarter. Finally, Gradient Investments LLC increased its position in PowerShares QQQ Trust, Series 1 by 1.3% in the second quarter. Gradient Investments LLC now owns 1,639 shares of the exchange traded fund’s stock worth $226,000 after buying an additional 21 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 144.03 on Wednesday. The firm’s 50-day moving average is $141.82 and its 200-day moving average is $136.07. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96.

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. The ex-dividend date was Friday, June 16th. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 annualized dividend and a dividend yield of 1.05%.

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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 objective on the stock 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.

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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