Busey Trust CO held its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,397 shares of the exchange traded fund’s stock at the end of the second quarter. Busey Trust CO’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. WealthTrust Fairport LLC increased its stake 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 worth $277,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its stake 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 worth $306,000 after buying an additional 10 shares in the last quarter. Great Lakes Advisors LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 4,549 shares of the exchange traded fund’s stock worth $602,000 after buying an additional 21 shares in the last quarter. Stockman Wealth Management Inc. increased its stake in shares of PowerShares QQQ Trust, Series 1 by 0.4% in the first quarter. Stockman Wealth Management Inc. now owns 5,622 shares of the exchange traded fund’s stock worth $744,000 after buying an additional 21 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 1.3% in the second quarter. Gradient Investments LLC now owns 1,639 shares of the exchange traded fund’s stock worth $226,000 after buying an additional 21 shares in the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 141.33 on Friday. PowerShares QQQ Trust, Series 1 has a 12 month low of $113.45 and a 12 month high of $145.96. The company has a 50-day moving average price of $142.04 and a 200-day moving average price of $136.17.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders 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. This represents a $1.51 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, June 16th.

TRADEMARK VIOLATION NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/08/18/busey-trust-co-has-1156000-stake-in-powershares-qqq-trust-series-1-qqq.html.

Separately, Vetr upgraded PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target for the company 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

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

Receive News & Stock Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related stocks with our FREE daily email newsletter.