Traders Sell Shares of PowerShares QQQ Trust, Series 1 (QQQ) on Strength (QQQ)

Traders sold shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) on strength during trading hours on Wednesday. $1,471.83 million flowed into the stock on the tick-up and $1,582.64 million flowed out of the stock on the tick-down, for a money net flow of $110.81 million out of the stock. Of all stocks tracked, PowerShares QQQ Trust, Series 1 had the 0th highest net out-flow for the day. PowerShares QQQ Trust, Series 1 traded up $2.48 for the day and closed at $159.74

The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Tuesday, March 20th will be paid a $0.2766 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $1.11 annualized dividend and a dividend yield of 0.69%.

Hedge funds have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. boosted its stake in PowerShares QQQ Trust, Series 1 by 108.6% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 774 shares of the exchange traded fund’s stock valued at $121,000 after purchasing an additional 403 shares during the last quarter. Glassman Wealth Services boosted its stake in PowerShares QQQ Trust, Series 1 by 177.9% during the 4th quarter. Glassman Wealth Services now owns 806 shares of the exchange traded fund’s stock valued at $126,000 after purchasing an additional 516 shares during the last quarter. Atlantic Trust LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 65.2% during the 3rd quarter. Atlantic Trust LLC now owns 920 shares of the exchange traded fund’s stock valued at $134,000 after purchasing an additional 363 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in PowerShares QQQ Trust, Series 1 during the 4th quarter valued at about $139,000. Finally, Spectrum Management Group Inc. boosted its stake in PowerShares QQQ Trust, Series 1 by 845.0% during the 4th quarter. Spectrum Management Group Inc. now owns 945 shares of the exchange traded fund’s stock valued at $147,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds own 38.94% of the company’s stock.

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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.

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