Dumont & Blake Investment Advisors LLC reduced its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 14.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,748 shares of the exchange traded fund’s stock after selling 5,980 shares during the quarter. PowerShares QQQ Trust, Series 1 accounts for about 2.2% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Dumont & Blake Investment Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $5,200,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QQQ. Morgan Stanley boosted its holdings in shares of PowerShares QQQ Trust, Series 1 by 17.6% during the 1st quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock valued at $1,660,443,000 after acquiring an additional 1,874,344 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of PowerShares QQQ Trust, Series 1 by 2,479.8% during the 1st quarter. Bank of Nova Scotia now owns 1,029,923 shares of the exchange traded fund’s stock valued at $136,341,000 after acquiring an additional 990,000 shares during the last quarter. Bank of Tokyo Mitsubishi UFJ Ltd. purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the 2nd quarter valued at about $99,101,000. AQR Capital Management LLC purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the 1st quarter valued at about $78,292,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PowerShares QQQ Trust, Series 1 by 930.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 549,109 shares of the exchange traded fund’s stock valued at $72,691,000 after acquiring an additional 495,801 shares during the last quarter. Institutional investors and hedge funds own 51.85% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Dumont & Blake Investment Advisors LLC Sells 5,980 Shares of PowerShares QQQ Trust, Series 1 (QQQ)” was originally published by Watch List News and is the property of of Watch List News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.watchlistnews.com/dumont-blake-investment-advisors-llc-sells-5980-shares-of-powershares-qqq-trust-series-1-qqq/1675960.html.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, September 19th were issued a dividend of $0.3194 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%.

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)

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.