Lucas Capital Management boosted its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,475 shares of the exchange traded fund’s stock after buying an additional 335 shares during the period. Lucas Capital Management’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $117,000. Scopus Asset Management L.P. bought a new position in PowerShares QQQ Trust, Series 1 during the third quarter valued at approximately $119,000. Bartlett & Co. LLC raised its position in PowerShares QQQ Trust, Series 1 by 29.1% in the first quarter. Bartlett & Co. LLC now owns 937 shares of the exchange traded fund’s stock valued at $124,000 after buying an additional 211 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $125,000. Finally, Hartford Financial Management Inc. bought a new position in PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $139,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

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

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded down 0.43% on Friday, reaching $138.15. The company’s stock had a trading volume of 48,087,413 shares. PowerShares QQQ Trust, Series 1 has a 1-year low of $101.75 and a 1-year high of $143.90. The stock has a 50 day moving average price of $139.47 and a 200-day moving average price of $129.86. PowerShares QQQ Trust, Series 1 also was the target of some unusual options trading activity on Thursday. Stock traders purchased 404,444 call options on the stock. This is an increase of approximately 144% compared to the typical volume of 165,901 call options.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Tuesday, June 20th will be paid a $0.3784 dividend. This represents a $1.51 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, June 16th. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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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 price objective 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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