First Midwest Bank Trust Division purchased a new stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, Holdings Channel reports. The fund purchased 1,464 shares of the exchange traded fund’s stock, valued at approximately $202,000.

Other institutional investors also recently modified their holdings of the company. WealthTrust Fairport LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 10 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 4,549 shares of the exchange traded fund’s stock worth $602,000 after buying an additional 21 shares in the last quarter. Stockman Wealth Management Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 0.4% in the first quarter. Stockman Wealth Management Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $744,000 after buying an additional 21 shares in the last quarter. Finally, Gradient Investments LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 1.3% in the second quarter. Gradient Investments LLC now owns 1,639 shares of the exchange traded fund’s stock worth $226,000 after buying an additional 21 shares in the last quarter. 39.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.691% during trading on Friday, reaching $142.005. 26,993,213 shares of the company’s stock were exchanged. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96. The company has a 50 day moving average price of $141.61 and a 200-day moving average price of $135.51. PowerShares QQQ Trust, Series 1 also was the target of some unusual options trading activity on Thursday. Traders acquired 652,577 put options on the company. This is an increase of approximately 125% compared to the average volume of 289,958 put options.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were paid a $0.3784 dividend. The ex-dividend date was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a yield of 1.07%. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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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 target price on the stock in a report 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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