Salem Investment Counselors Inc. Holds Stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Salem Investment Counselors Inc. maintained its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the first quarter, according to its most recent filing with the SEC. The fund owned 1,379 shares of the exchange traded fund’s stock at the end of the first quarter. Salem Investment Counselors Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QQQ. Morgan Stanley increased its stake in shares of PowerShares QQQ Trust, Series 1 by 17.6% in the first quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock valued at $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. Quantitative Investment Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 148.0% in the first quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock valued at $155,347,000 after buying an additional 700,400 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $78,292,000. Broadmark Asset Management LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $36,895,000. Finally, Forward Management LLC boosted its position in shares of PowerShares QQQ Trust, Series 1 by 199.9% in the first quarter. Forward Management LLC now owns 363,388 shares of the exchange traded fund’s stock valued at $48,105,000 after buying an additional 242,208 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded down 0.07% during trading on Friday, reaching $141.23. 60,751,940 shares of the company traded hands. The firm’s 50 day moving average is $142.15 and its 200-day moving average is $136.28. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $145.96.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a dividend of $0.3784 per share. The ex-dividend date of this dividend was Friday, June 16th. This is a boost 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%.

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Separately, Vetr raised shares of PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target on the stock in a research 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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