Osborne Partners Capital Management LLC lowered its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 3,417 shares of the exchange traded fund’s stock after selling 78 shares during the period. Osborne Partners Capital Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $470,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QQQ. WealthTrust Arizona LLC raised its stake in PowerShares QQQ Trust, Series 1 by 73.2% in the second quarter. WealthTrust Arizona LLC now owns 21,600 shares of the exchange traded fund’s stock valued at $2,974,000 after buying an additional 9,131 shares during the last quarter. Huntington National Bank raised its stake in PowerShares QQQ Trust, Series 1 by 49.1% in the second quarter. Huntington National Bank now owns 13,799 shares of the exchange traded fund’s stock valued at $1,899,000 after buying an additional 4,546 shares during the last quarter. RiverFront Investment Group LLC raised its stake in PowerShares QQQ Trust, Series 1 by 0.7% in the second quarter. RiverFront Investment Group LLC now owns 787,157 shares of the exchange traded fund’s stock valued at $108,344,000 after buying an additional 5,559 shares during the last quarter. Vicus Capital raised its stake in PowerShares QQQ Trust, Series 1 by 534.1% in the second quarter. Vicus Capital now owns 49,827 shares of the exchange traded fund’s stock valued at $6,858,000 after buying an additional 41,969 shares during the last quarter. Finally, Cornerstone Financial Partners LLC raised its stake in PowerShares QQQ Trust, Series 1 by 2.8% in the second quarter. Cornerstone Financial Partners LLC now owns 4,265 shares of the exchange traded fund’s stock valued at $587,000 after buying an additional 118 shares during the last quarter. Institutional investors own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded down 1.68% during mid-day trading on Thursday, reaching $141.70. The company’s stock had a trading volume of 29,476,136 shares. The firm’s 50 day moving average price is $141.60 and its 200 day moving average price is $135.48. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were paid a dividend of $0.3784 per share. The ex-dividend date was Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a yield of 1.05%. 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 price target 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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