PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) was the target of unusually large options trading on Thursday. Stock traders bought 652,577 put options on the company. This represents an increase of 125% compared to the typical daily volume of 289,958 put options.

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 research report on Tuesday, May 23rd.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthTrust Fairport LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock valued at $277,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock valued at $306,000 after buying an additional 10 shares in the last quarter. United Asset Strategies Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the second quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock valued at $725,000 after buying an additional 15 shares in the last quarter. Benchmark Capital Advisors increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.8% in the second quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock valued at $264,000 after buying an additional 15 shares in the last quarter. Finally, HMS Capital Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. HMS Capital Management LLC now owns 3,491 shares of the exchange traded fund’s stock valued at $480,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 39.25% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) opened at 142.10 on Friday. The company’s 50-day moving average price is $141.65 and its 200-day moving average price is $135.65. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a dividend of $0.3784 per share. 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%. The ex-dividend date of this dividend was Friday, June 16th.

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PowerShares QQQ Trust, Series 1 Company Profile

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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