Financial Advocates Investment Management Takes $28.74 Million Position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Financial Advocates Investment Management purchased a new stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 184,494 shares of the exchange traded fund’s stock, valued at approximately $28,737,000. PowerShares QQQ Trust, Series 1 makes up 3.9% of Financial Advocates Investment Management’s holdings, making the stock its biggest position. Financial Advocates Investment Management owned 0.05% of PowerShares QQQ Trust, Series 1 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oxbow Advisors LLC increased its position in PowerShares QQQ Trust, Series 1 by 4.3% during the 4th quarter. Oxbow Advisors LLC now owns 8,040 shares of the exchange traded fund’s stock worth $1,252,000 after purchasing an additional 330 shares in the last quarter. D Orazio & Associates Inc. increased its position in PowerShares QQQ Trust, Series 1 by 15.3% during the 4th quarter. D Orazio & Associates Inc. now owns 2,492 shares of the exchange traded fund’s stock worth $388,000 after purchasing an additional 330 shares in the last quarter. McQueen Ball & Associates Inc. increased its position in PowerShares QQQ Trust, Series 1 by 18.3% during the 4th quarter. McQueen Ball & Associates Inc. now owns 2,168 shares of the exchange traded fund’s stock worth $338,000 after purchasing an additional 336 shares in the last quarter. Evanson Asset Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 13.1% during the 4th quarter. Evanson Asset Management LLC now owns 2,928 shares of the exchange traded fund’s stock worth $456,000 after purchasing an additional 338 shares in the last quarter. Finally, Cypress Capital Group boosted its stake in PowerShares QQQ Trust, Series 1 by 1.5% in the 3rd quarter. Cypress Capital Group now owns 22,601 shares of the exchange traded fund’s stock worth $3,287,000 after buying an additional 341 shares during the last quarter. Institutional investors and hedge funds own 38.94% of the company’s stock.

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Shares of NASDAQ:QQQ opened at $156.63 on Friday. PowerShares QQQ Trust, Series 1 has a 12-month low of $130.38 and a 12-month high of $175.21.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Tuesday, March 20th will be paid a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 19th.

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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.

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

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