Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,464 shares of the exchange traded fund’s stock after buying an additional 335 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $201,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in QQQ. WealthTrust Fairport LLC raised 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 valued at $277,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. raised 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 valued at $306,000 after buying an additional 10 shares during the period. Great Lakes Advisors LLC raised 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 valued at $602,000 after buying an additional 21 shares during the period. Stockman Wealth Management Inc. raised 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 valued at $744,000 after buying an additional 21 shares during the period. Finally, Gradient Investments LLC raised 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 valued at $226,000 after buying an additional 21 shares during the period. 38.35% of the stock is currently owned by institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 141.33 on Friday. The stock’s 50 day moving average price is $142.04 and its 200 day moving average price is $136.17. 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 declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were paid a $0.3784 dividend. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.51 annualized dividend and a dividend yield of 1.07%. 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 target on the stock in a research note 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.

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

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