Huntington National Bank Has $1.90 Million Position in PowerShares QQQ Trust, Series 1 (QQQ)

Huntington National Bank boosted its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 49.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,799 shares of the exchange traded fund’s stock after buying an additional 4,546 shares during the period. Huntington National Bank’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QQQ. Ipswich Investment Management Co. Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 17.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 5,795 shares of the exchange traded fund’s stock valued at $767,000 after buying an additional 855 shares during the period. Forward Management LLC increased 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 period. Main Street Research LLC purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at $202,000. V Wealth Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 533.0% in the first quarter. V Wealth Management LLC now owns 21,762 shares of the exchange traded fund’s stock valued at $2,880,000 after buying an additional 18,324 shares during the period. Finally, Wexford Capital LP increased its position in PowerShares QQQ Trust, Series 1 by 33.9% in the first quarter. Wexford Capital LP now owns 183,383 shares of the exchange traded fund’s stock worth $24,276,000 after buying an additional 46,395 shares during the period. Institutional investors and hedge funds own 39.25% of the company’s stock.

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) traded up 0.53% on Tuesday, reaching $145.33. 11,507,356 shares of the company’s stock were exchanged. PowerShares QQQ Trust, Series 1 has a 12 month low of $113.45 and a 12 month high of $145.96. The firm has a 50 day moving average of $140.84 and a 200 day moving average of $134.74.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Tuesday, June 20th were paid a $0.3784 dividend. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, June 16th. This represents a $1.51 annualized dividend and a dividend yield of 1.05%.

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Separately, Vetr upgraded shares of 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.

About PowerShares QQQ Trust, Series 1

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

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

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