Wedgewood Investors Inc. PA maintained its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,075 shares of the exchange traded fund’s stock at the end of the second quarter. Wedgewood Investors Inc. PA’s holdings in PowerShares QQQ Trust, Series 1 were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Affinity Wealth Management increased its position in PowerShares QQQ Trust, Series 1 by 130.3% in the first quarter. Affinity Wealth Management now owns 290,289 shares of the exchange traded fund’s stock valued at $38,428,000 after buying an additional 164,265 shares during the period. First United Bank Trust increased its position in PowerShares QQQ Trust, Series 1 by 6.0% in the first quarter. First United Bank Trust now owns 44,121 shares of the exchange traded fund’s stock valued at $5,841,000 after buying an additional 2,495 shares during the period. Reilly Financial Advisors LLC increased its position in PowerShares QQQ Trust, Series 1 by 1.2% in the first quarter. Reilly Financial Advisors LLC now owns 5,076 shares of the exchange traded fund’s stock valued at $672,000 after buying an additional 59 shares during the period. Patten & Patten Inc. TN increased its position in PowerShares QQQ Trust, Series 1 by 4.6% in the first quarter. Patten & Patten Inc. TN now owns 4,939 shares of the exchange traded fund’s stock valued at $654,000 after buying an additional 216 shares during the period. Finally, WealthTrust Arizona LLC increased its position in PowerShares QQQ Trust, Series 1 by 16.3% in the first quarter. WealthTrust Arizona LLC now owns 12,469 shares of the exchange traded fund’s stock valued at $1,651,000 after buying an additional 1,743 shares during the period. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 141.23 on Friday. The company’s 50-day moving average price is $142.15 and its 200 day moving average price is $136.28. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $145.96.

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

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Separately, Vetr raised 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 research note 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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