GenTrust LLC Has $370,000 Position in PowerShares QQQ Trust, Series 1 (QQQ)

GenTrust LLC increased its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 59.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,684 shares of the exchange traded fund’s stock after buying an additional 1,000 shares during the period. GenTrust LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $370,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Aveo Capital Partners LLC raised its stake in PowerShares QQQ Trust, Series 1 by 1.4% in the second quarter. Aveo Capital Partners LLC now owns 12,965 shares of the exchange traded fund’s stock worth $1,785,000 after buying an additional 176 shares during the last quarter. Joel Isaacson & Co. LLC raised its stake in PowerShares QQQ Trust, Series 1 by 1.7% in the second quarter. Joel Isaacson & Co. LLC now owns 6,716 shares of the exchange traded fund’s stock worth $924,000 after buying an additional 110 shares during the last quarter. Rockland Trust Co. raised its stake in PowerShares QQQ Trust, Series 1 by 7.8% in the second quarter. Rockland Trust Co. now owns 1,878 shares of the exchange traded fund’s stock worth $258,000 after buying an additional 136 shares during the last quarter. Shine Investment Advisory Services Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 65.1% in the second quarter. Shine Investment Advisory Services Inc. now owns 5,226 shares of the exchange traded fund’s stock worth $719,000 after buying an additional 2,061 shares during the last quarter. Finally, HL Financial Services LLC raised its stake in PowerShares QQQ Trust, Series 1 by 4.6% in the second quarter. HL Financial Services LLC now owns 29,409 shares of the exchange traded fund’s stock worth $4,048,000 after buying an additional 1,298 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 143.20 on Wednesday. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $145.96. The company’s 50 day moving average price is $142.24 and its 200-day moving average price is $136.56.

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were paid a dividend of $0.3784 per share. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. This represents a $1.51 annualized dividend and a dividend yield of 1.06%. 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 price objective on the stock in a research note 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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