BB&T Securities LLC boosted its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,971 shares of the exchange traded fund’s stock after buying an additional 24,907 shares during the period. BB&T Securities LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $41,012,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley raised its position 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 valued at $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in PowerShares QQQ Trust, Series 1 by 3.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock valued at $484,337,000 after buying an additional 130,587 shares in the last quarter. Ameriprise Financial Inc. raised its position in 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. US Bancorp DE raised its position in PowerShares QQQ Trust, Series 1 by 11.7% in the second quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock valued at $170,990,000 after buying an additional 130,266 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its position 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 valued at $155,347,000 after buying an additional 700,400 shares in the last quarter. 51.61% of the stock is owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 142.41 on Tuesday. The stock has a 50 day moving average price of $142.74 and a 200 day moving average price of $136.89. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were issued a $0.3784 dividend. 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 1.06%. The ex-dividend date of this dividend was Friday, June 16th.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/bbt-securities-llc-purchases-24907-shares-of-powershares-qqq-trust-series-1-qqq/1529138.html.

Separately, Vetr raised 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 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.

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

Receive News & Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related companies with Analyst Ratings Network's FREE daily email newsletter.