David R. Rahn & Associates Inc. decreased its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 49.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,022 shares of the exchange traded fund’s stock after selling 2,955 shares during the period. David R. Rahn & Associates Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nwam LLC raised its position in shares of PowerShares QQQ Trust, Series 1 by 6.0% in the second quarter. Nwam LLC now owns 47,197 shares of the exchange traded fund’s stock worth $6,496,000 after buying an additional 2,679 shares in the last quarter. Silicon Valley Capital Partners raised its position in shares of PowerShares QQQ Trust, Series 1 by 17.5% in the second quarter. Silicon Valley Capital Partners now owns 80,552 shares of the exchange traded fund’s stock worth $11,087,000 after buying an additional 12,026 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of PowerShares QQQ Trust, Series 1 by 71.5% in the second quarter. CIBC Asset Management Inc now owns 23,228 shares of the exchange traded fund’s stock worth $3,197,000 after buying an additional 9,685 shares in the last quarter. 3EDGE Asset Management LP bought a new position in shares of PowerShares QQQ Trust, Series 1 during the second quarter worth approximately $64,616,000. Finally, Eagle Global Advisors LLC raised its position in shares of PowerShares QQQ Trust, Series 1 by 5.0% in the second quarter. Eagle Global Advisors LLC now owns 21,255 shares of the exchange traded fund’s stock worth $2,926,000 after buying an additional 1,020 shares in 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 144.28 on Thursday. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $145.96. The stock’s 50 day moving average price is $142.00 and its 200-day moving average price is $136.13.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Tuesday, June 20th were issued a dividend of $0.3784 per share. This represents a $1.51 annualized dividend and a yield of 1.05%. The ex-dividend date was 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 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.

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

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