Corbenic Partners LLC reduced its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,014 shares of the exchange traded fund’s stock after selling 19,912 shares during the quarter. PowerShares QQQ Trust, Series 1 comprises approximately 9.9% of Corbenic Partners LLC’s holdings, making the stock its 2nd largest position. Corbenic Partners LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $7,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. Morgan Stanley grew its stake in 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 worth $1,660,443,000 after buying an additional 1,874,344 shares during the last quarter. Bank of Nova Scotia grew its stake in 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 worth $136,341,000 after buying an additional 990,000 shares during the last quarter. Bank of Tokyo Mitsubishi UFJ Ltd. bought a new position in PowerShares QQQ Trust, Series 1 during the 2nd quarter worth $99,101,000. Quantitative Investment Management LLC grew its stake in PowerShares QQQ Trust, Series 1 by 148.0% during the 1st 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 during the last quarter. Finally, AQR Capital Management LLC bought a new position in PowerShares QQQ Trust, Series 1 during the 1st quarter worth $78,292,000. Hedge funds and other institutional investors own 50.61% of the company’s stock.

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Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.75% on Thursday, reaching $147.12. The company had a trading volume of 13,746,164 shares. PowerShares QQQ Trust, Series 1 has a 12 month low of $113.45 and a 12 month high of $147.16. The company’s 50-day moving average is $144.38 and its 200 day moving average is $139.85.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, September 19th will be given a dividend of $0.3194 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.28 annualized dividend and a dividend yield of 0.87%.

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.

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

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