Sheets Smith Wealth Management decreased its holdings in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 22,859 shares of the exchange traded fund’s stock after selling 836 shares during the period. PowerShares QQQ Trust, Series 1 comprises 0.8% of Sheets Smith Wealth Management’s holdings, making the stock its 28th biggest position. Sheets Smith Wealth Management’s holdings in PowerShares QQQ Trust, Series 1 were worth $3,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. CHURCHILL MANAGEMENT Corp raised its stake in PowerShares QQQ Trust, Series 1 by 3.7% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 3,805,664 shares of the exchange traded fund’s stock worth $592,770,000 after purchasing an additional 136,405 shares in the last quarter. Cardan Capital Partners LLC raised its stake in PowerShares QQQ Trust, Series 1 by 18.8% in the 4th quarter. Cardan Capital Partners LLC now owns 82,614 shares of the exchange traded fund’s stock worth $12,867,000 after purchasing an additional 13,045 shares in the last quarter. Bogart Wealth LLC raised its stake in PowerShares QQQ Trust, Series 1 by 13.4% in the 4th quarter. Bogart Wealth LLC now owns 6,281 shares of the exchange traded fund’s stock worth $978,000 after purchasing an additional 741 shares in the last quarter. White Lighthouse Investment Management Inc. acquired a new stake in PowerShares QQQ Trust, Series 1 in the 4th quarter worth about $730,000. Finally, Train Babcock Advisors LLC acquired a new stake in PowerShares QQQ Trust, Series 1 in the 4th quarter worth about $7,251,000. Institutional investors and hedge funds own 39.36% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded up $1.20 during trading on Friday, reaching $164.49. 37,757,315 shares of the company’s stock traded hands, compared to its average volume of 28,209,922. PowerShares QQQ Trust, Series 1 has a twelve month low of $122.43 and a twelve month high of $164.66.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th were paid a $0.3294 dividend. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 18th. This represents a $1.32 annualized dividend and a yield of 0.80%.

TRADEMARK VIOLATION WARNING: “Sheets Smith Wealth Management Has $3.56 Million Holdings in PowerShares QQQ Trust, Series 1 (QQQ)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2018/01/12/sheets-smith-wealth-management-has-3-56-million-holdings-in-powershares-qqq-trust-series-1-qqq.html.

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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