Cabot Wealth Management Inc. reduced its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,645 shares of the exchange traded fund’s stock after selling 674 shares during the period. Cabot Wealth Management Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $915,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth $139,000. Capital Advisors Ltd. LLC raised its stake in PowerShares QQQ Trust, Series 1 by 1.3% in the first quarter. Capital Advisors Ltd. LLC now owns 9,387 shares of the exchange traded fund’s stock worth $1,243,000 after buying an additional 123 shares during the last quarter. Ledyard National Bank raised its stake in PowerShares QQQ Trust, Series 1 by 29.8% in the first quarter. Ledyard National Bank now owns 4,446 shares of the exchange traded fund’s stock worth $589,000 after buying an additional 1,020 shares during the last quarter. Boys Arnold & Co. Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 22.9% in the first quarter. Boys Arnold & Co. Inc. now owns 7,318 shares of the exchange traded fund’s stock worth $969,000 after buying an additional 1,362 shares during the last quarter. Finally, Johanson Financial Advisors Inc. acquired a new stake in PowerShares QQQ Trust, Series 1 during the first quarter worth $704,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 141.05 on Tuesday. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $145.96. The firm has a 50-day moving average price of $142.24 and a 200-day moving average price of $136.56.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were paid a $0.3784 dividend. This represents a $1.51 annualized dividend and a dividend yield of 1.07%. 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.

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Separately, Vetr upgraded 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 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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