Cullen Frost Bankers Inc. decreased its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,356 shares of the exchange traded fund’s stock after selling 76 shares during the period. Cullen Frost Bankers Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $325,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Financial Corp IN increased its position in shares of PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock worth $111,000 after buying an additional 530 shares during the period. Bartlett & Co. LLC increased its position in shares of 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 worth $124,000 after buying an additional 211 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $125,000. Botty Investors LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $132,000. Finally, Hartford Financial Management Inc. acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $139,000. 38.35% of the stock is owned by hedge funds and other institutional investors.

PowerShares QQQ Trust, Series 1 (QQQ) opened at 141.23 on Monday. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $145.96. The stock’s 50 day moving average price is $142.15 and its 200-day moving average price is $136.28.

The company 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 is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, June 16th. This represents a $1.51 annualized dividend and a yield of 1.07%.

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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 for the company in a research note 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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Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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