Milestone Group Inc. reduced its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 49.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,123 shares of the exchange traded fund’s stock after selling 3,053 shares during the period. Milestone Group Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $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. 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. Finally, FMR LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 6.0% in the first quarter. FMR LLC now owns 127,018 shares of the exchange traded fund’s stock valued at $16,815,000 after buying an additional 7,197 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 144.03 on Wednesday. The stock’s 50 day moving average price is $141.82 and its 200-day moving average price is $136.07. 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. Stockholders of record on Tuesday, June 20th were issued a $0.3784 dividend. The ex-dividend date of this dividend was Friday, June 16th. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.05%.

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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 report on Tuesday, May 23rd.

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.

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

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