Hanlon Investment Management Inc. Has $1.37 Million Position in PowerShares QQQ Trust, Series 1 (QQQ)

Hanlon Investment Management Inc. reduced its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,355 shares of the exchange traded fund’s stock after selling 283 shares during the period. Hanlon Investment Management Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,371,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bartlett & Co. LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 29.1% in the first quarter. Bartlett & Co. LLC now owns 937 shares of the exchange traded fund’s stock valued at $124,000 after buying an additional 211 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $125,000. Hartford Financial Management Inc. acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $139,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at about $164,000. Finally, Pinnacle Bank acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $194,000. 36.09% of the stock is currently owned by institutional investors.

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

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 141.24 on Friday. The company’s 50-day moving average price is $139.66 and its 200-day moving average price is $130.39. PowerShares QQQ Trust, Series 1 has a 52-week low of $101.75 and a 52-week high of $143.90.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Tuesday, June 20th will be paid a $0.3784 dividend. The ex-dividend date is Friday, June 16th. This represents a $1.51 dividend on an annualized basis and a yield of 1.07%. This is a positive change from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27.

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Separately, Vetr raised 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.

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).

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