Hollencrest Capital Management Cuts Position in PowerShares QQQ Trust, Series 1 (QQQ)

Hollencrest Capital Management cut its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406,351 shares of the exchange traded fund’s stock after selling 1,024 shares during the quarter. PowerShares QQQ Trust, Series 1 makes up approximately 8.3% of Hollencrest Capital Management’s holdings, making the stock its 2nd biggest position. Hollencrest Capital Management owned about 0.11% of PowerShares QQQ Trust, Series 1 worth $63,293,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in PowerShares QQQ Trust, Series 1 in the 3rd quarter worth approximately $1,471,000. Neuberger Berman Group LLC boosted its stake in PowerShares QQQ Trust, Series 1 by 3.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 99,710 shares of the exchange traded fund’s stock worth $14,503,000 after purchasing an additional 3,135 shares during the period. HWG Holdings LP boosted its stake in PowerShares QQQ Trust, Series 1 by 7,350.6% in the 3rd quarter. HWG Holdings LP now owns 20,191 shares of the exchange traded fund’s stock worth $2,937,000 after purchasing an additional 19,920 shares during the period. Beaton Management Co. Inc. bought a new position in PowerShares QQQ Trust, Series 1 in the 2nd quarter worth approximately $745,000. Finally, First Commonwealth Financial Corp PA bought a new position in PowerShares QQQ Trust, Series 1 in the 2nd quarter worth approximately $487,000. Institutional investors own 39.36% of the company’s stock.

PowerShares QQQ Trust, Series 1 (QQQ) traded up $0.52 during mid-day trading on Friday, reaching $166.34. The company’s stock had a trading volume of 36,361,881 shares, compared to its average volume of 29,616,676. PowerShares QQQ Trust, Series 1 has a 1-year low of $122.57 and a 1-year high of $166.41.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th were paid a $0.3294 dividend. This represents a $1.32 annualized dividend and a yield of 0.79%. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 18th.

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

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