Carroll Financial Associates Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 5,476 shares of the exchange traded fund’s stock after buying an additional 214 shares during the period. Carroll Financial Associates Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $753,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC raised its position in PowerShares QQQ Trust, Series 1 by 49.1% in the first quarter. Gradient Investments LLC now owns 1,618 shares of the exchange traded fund’s stock valued at $214,000 after buying an additional 533 shares during the last quarter. Regentatlantic Capital LLC raised its position in PowerShares QQQ Trust, Series 1 by 7.3% in the first quarter. Regentatlantic Capital LLC now owns 5,163 shares of the exchange traded fund’s stock valued at $684,000 after buying an additional 351 shares during the last quarter. Bremer Trust National Association acquired a new position in PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $266,000. Honkamp Krueger Financial Services Inc. raised its position in PowerShares QQQ Trust, Series 1 by 6.6% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 5,626 shares of the exchange traded fund’s stock valued at $745,000 after buying an additional 347 shares during the last quarter. Finally, ELM Advisors LLC raised its position in PowerShares QQQ Trust, Series 1 by 13.3% in the first quarter. ELM Advisors LLC now owns 10,219 shares of the exchange traded fund’s stock valued at $1,353,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.76% during trading on Friday, reaching $142.10. The company had a trading volume of 45,862,488 shares. The company has a 50-day moving average price of $141.65 and a 200 day moving average price of $135.65. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96. PowerShares QQQ Trust, Series 1 also saw some unusual options trading on Thursday. Stock traders purchased 652,577 put options on the company. This represents an increase of approximately 125% compared to the average daily volume of 289,958 put options.

The firm 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. The ex-dividend date was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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Separately, Vetr upgraded PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 target price for the company in a research note 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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