Country Trust Bank maintained its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, Holdings Channel reports. The institutional investor owned 1,791 shares of the exchange traded fund’s stock at the end of the second quarter. Country Trust Bank’s holdings in PowerShares QQQ Trust, Series 1 were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Morgan Stanley boosted its stake 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 worth $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake 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 worth $484,337,000 after buying an additional 130,587 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 worth $186,652,000 after buying an additional 69,876 shares in the last quarter. US Bancorp DE boosted its stake 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 worth $170,990,000 after buying an additional 130,266 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its stake 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 worth $155,347,000 after buying an additional 700,400 shares in the last quarter. Institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 144.03 on Wednesday. The stock’s 50 day moving average price is $141.82 and its 200-day moving average price is $136.07. 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 declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were issued a dividend of $0.3784 per share. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, June 16th.

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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 price objective 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).

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

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