Essex Financial Services Inc. lessened its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 86.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,422 shares of the exchange traded fund’s stock after selling 27,853 shares during the period. Essex Financial Services Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $643,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in QQQ. Morgan Stanley raised its stake in PowerShares QQQ Trust, Series 1 by 17.6% in the 1st quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock valued at $1,660,443,000 after purchasing an additional 1,874,344 shares during the last quarter. Bank of Nova Scotia boosted its holdings in PowerShares QQQ Trust, Series 1 by 2,479.8% during the 1st quarter. Bank of Nova Scotia now owns 1,029,923 shares of the exchange traded fund’s stock valued at $136,341,000 after acquiring an additional 990,000 shares during the period. Bank of Tokyo Mitsubishi UFJ Ltd. purchased a new position in PowerShares QQQ Trust, Series 1 during the 2nd quarter valued at about $99,101,000. AQR Capital Management LLC purchased a new position in PowerShares QQQ Trust, Series 1 during the 1st quarter valued at about $78,292,000. Finally, Tower Research Capital LLC TRC boosted its holdings in PowerShares QQQ Trust, Series 1 by 930.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 549,109 shares of the exchange traded fund’s stock valued at $72,691,000 after acquiring an additional 495,801 shares during the period. Institutional investors and hedge funds own 51.85% of the company’s stock.

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PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded down $0.32 during trading on Friday, hitting $153.37. The company had a trading volume of 6,546,726 shares, compared to its average volume of 27,426,492. PowerShares QQQ Trust, Series 1 has a 12-month low of $114.03 and a 12-month high of $154.54.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, September 19th were given a dividend of $0.3194 per share. The ex-dividend date was Monday, September 18th. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%.

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.

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

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