Eagle Asset Management Inc. Takes Position in PowerShares QQQ Trust, Series 1 (QQQ)

September 24th, 20176:58 am @

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Eagle Asset Management Inc. bought a new stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 40,882 shares of the exchange traded fund’s stock, valued at approximately $5,626,000.

A number of other hedge funds have also recently made changes to their positions in the business. Morgan Stanley lifted its stake in shares of PowerShares QQQ Trust, Series 1 by 17.6% during the 1st quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock worth $1,660,443,000 after buying an additional 1,874,344 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its stake in shares of PowerShares QQQ Trust, Series 1 by 3.9% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock worth $484,337,000 after buying an additional 130,587 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of PowerShares QQQ Trust, Series 1 by 5.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,413,920 shares of the exchange traded fund’s stock worth $186,652,000 after buying an additional 69,876 shares during the last quarter. US Bancorp DE lifted its stake in shares of PowerShares QQQ Trust, Series 1 by 11.7% during the 2nd quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock worth $170,990,000 after buying an additional 130,266 shares during the last quarter. Finally, Quantitative Investment Management LLC raised its stake in PowerShares QQQ Trust, Series 1 by 148.0% in the 1st quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock worth $155,347,000 after purchasing an additional 700,400 shares in the last quarter. Hedge funds and other institutional investors own 50.80% of the company’s stock.

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Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 144.32 on Friday. The firm has a 50-day moving average of $144.00 and a 200 day moving average of $138.84. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $146.59.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, September 19th will be issued a $0.3194 dividend. The ex-dividend date is Monday, September 18th. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%.

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.




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Article source: https://weekherald.com/2017/09/24/eagle-asset-management-inc-invests-5-63-million-in-powershares-qqq-trust-series-1-qqq-stock.html