Ironsides Asset Advisors LLC Has $2.14 Million Stake in PowerShares QQQ Trust, Series 1 (QQQ)

Ironsides Asset Advisors LLC trimmed its holdings in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,700 shares of the exchange traded fund’s stock after selling 1,427 shares during the period. PowerShares QQQ Trust, Series 1 comprises 0.9% of Ironsides Asset Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Ironsides Asset Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $2,138,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. First Financial Corp IN increased its stake in PowerShares QQQ Trust, Series 1 by 189.3% in the 2nd quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock valued at $111,000 after purchasing an additional 530 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in PowerShares QQQ Trust, Series 1 by 48.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 891 shares of the exchange traded fund’s stock valued at $123,000 after purchasing an additional 291 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in PowerShares QQQ Trust, Series 1 by 2.2% in the 2nd quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock valued at $127,000 after purchasing an additional 20 shares in the last quarter. Exane Derivatives purchased a new position in PowerShares QQQ Trust, Series 1 in the 2nd quarter valued at approximately $153,000. Finally, Bristlecone Advisors LLC purchased a new position in PowerShares QQQ Trust, Series 1 in the 3rd quarter valued at approximately $165,000. 52.59% of the stock is owned by institutional investors and hedge funds.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded up $1.85 during trading hours on Thursday, reaching $154.45. The company’s stock had a trading volume of 10,146,454 shares, compared to its average volume of 27,421,895. PowerShares QQQ Trust, Series 1 has a 52-week low of $115.22 and a 52-week high of $154.54.

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

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PowerShares QQQ Trust, Series 1 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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