PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 64,157,695 shares, an increase of 20.4% from the November 30th total of 53,278,250 shares. Currently, 16.8% of the shares of the company are sold short. Based on an average daily volume of 34,601,429 shares, the days-to-cover ratio is presently 1.9 days.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in PowerShares QQQ Trust, Series 1 by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 1,599,211 shares of the exchange traded fund’s stock worth $234,183,000 after buying an additional 4,448 shares in the last quarter. Commonwealth Equity Services Inc grew its position in PowerShares QQQ Trust, Series 1 by 2.4% during the third quarter. Commonwealth Equity Services Inc now owns 1,215,001 shares of the exchange traded fund’s stock worth $176,721,000 after buying an additional 28,452 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in PowerShares QQQ Trust, Series 1 by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,170,554 shares of the exchange traded fund’s stock worth $161,115,000 after buying an additional 86,838 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in PowerShares QQQ Trust, Series 1 during the third quarter worth about $145,450,000. Finally, First Republic Investment Management Inc. grew its position in PowerShares QQQ Trust, Series 1 by 6.8% during the third quarter. First Republic Investment Management Inc. now owns 805,050 shares of the exchange traded fund’s stock worth $117,094,000 after buying an additional 51,334 shares in the last quarter. 39.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at $158.49 on Wednesday. PowerShares QQQ Trust, Series 1 has a 1 year low of $118.89 and a 1 year high of $158.77.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were given a dividend of $0.3294 per share. The ex-dividend date was Monday, December 18th. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 0.83%.

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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.

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