RNC Capital Management LLC decreased its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the exchange traded fund’s stock after selling 422 shares during the quarter. RNC Capital Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $496,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Maple Capital Management Inc. boosted its stake in PowerShares QQQ Trust, Series 1 by 0.5% in the 2nd 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 in the last quarter. United Asset Strategies Inc. boosted its stake in PowerShares QQQ Trust, Series 1 by 0.3% in the 2nd quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock valued at $725,000 after buying an additional 15 shares in the last quarter. Benchmark Capital Advisors boosted its stake in PowerShares QQQ Trust, Series 1 by 0.8% in the 2nd quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock valued at $264,000 after buying an additional 15 shares in the last quarter. HMS Capital Management LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 0.5% in the 2nd quarter. HMS Capital Management LLC now owns 3,491 shares of the exchange traded fund’s stock valued at $480,000 after buying an additional 19 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 2.2% in the 2nd quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock valued at $127,000 after buying an additional 20 shares in the last quarter. 51.48% of the stock is currently owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded up 0.39% during trading on Friday, reaching $148.34. The company’s stock had a trading volume of 18,409,888 shares. The company’s 50 day moving average price is $145.57 and its 200-day moving average price is $140.70. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $148.51.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.3194 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%.

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PowerShares QQQ Trust, Series 1 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.

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

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