Arthur M. Cohen & Associates LLC raised its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 28.7% during the second quarter, Holdings Channel reports. The firm owned 10,371 shares of the exchange traded fund’s stock after buying an additional 2,310 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,412,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in QQQ. First Financial Corp IN increased its stake in shares of PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock worth $111,000 after buying an additional 530 shares during the period. Bartlett & Co. LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 29.1% in the first quarter. Bartlett & Co. LLC now owns 937 shares of the exchange traded fund’s stock worth $124,000 after buying an additional 211 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $125,000. Botty Investors LLC purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $132,000. Finally, Hartford Financial Management Inc. purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $139,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 143.93 on Tuesday. The firm’s 50-day moving average is $141.73 and its 200-day moving average is $135.94. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a dividend of $0.3784 per share. This is a positive change 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%. The ex-dividend date of this dividend was Friday, June 16th.

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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 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).

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

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