PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) is Murphy Capital Management Inc.’s 3rd Largest Position

Murphy Capital Management Inc. cut its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 3.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 122,632 shares of the exchange traded fund’s stock after selling 4,249 shares during the period. PowerShares QQQ Trust, Series 1 makes up about 2.5% of Murphy Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Murphy Capital Management Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $16,879,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in QQQ. First Financial Corp IN boosted its stake 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 valued at $111,000 after buying an additional 530 shares during the last quarter. Bartlett & Co. LLC boosted its stake 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 valued at $124,000 after buying an additional 211 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $125,000. Botty Investors LLC bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $132,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at approximately $139,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded down 0.07% during trading on Friday, reaching $141.23. The company’s stock had a trading volume of 60,751,940 shares. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were given a $0.3784 dividend. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, June 16th.

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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 report on Tuesday, May 23rd.

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.

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

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