Benin Management CORP lowered its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 19.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,504 shares of the exchange traded fund’s stock after selling 600 shares during the period. Benin Management CORP’s holdings in PowerShares QQQ Trust, Series 1 were worth $345,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 17.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 5,795 shares of the exchange traded fund’s stock valued at $767,000 after buying an additional 855 shares during the last quarter. Forward Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 199.9% in the first quarter. Forward Management LLC now owns 363,388 shares of the exchange traded fund’s stock valued at $48,105,000 after buying an additional 242,208 shares during the last quarter. Main Street Research LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $202,000. V Wealth Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 533.0% in the first quarter. V Wealth Management LLC now owns 21,762 shares of the exchange traded fund’s stock valued at $2,880,000 after buying an additional 18,324 shares during the last quarter. Finally, Wexford Capital LP boosted its position in shares of PowerShares QQQ Trust, Series 1 by 33.9% in the first quarter. Wexford Capital LP now owns 183,383 shares of the exchange traded fund’s stock valued at $24,276,000 after buying an additional 46,395 shares during the last quarter. 39.25% of the stock is currently owned by institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded up 0.8251% during trading on Friday, reaching $142.1936. 26,268,933 shares of the company traded hands. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96. The firm’s 50 day moving average is $141.61 and its 200-day moving average is $135.51. PowerShares QQQ Trust, Series 1 also saw some unusual options trading activity on Thursday. Stock investors acquired 652,577 put options on the company. This represents an increase of approximately 125% compared to the typical daily volume of 289,958 put options.

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

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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 price target on the stock in a research 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.

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

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