Brasada Capital Management LP Takes $268,000 Position in PowerShares QQQ Trust, Series 1 (QQQ)

Brasada Capital Management LP acquired a new position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,675 shares of the exchange traded fund’s stock, valued at approximately $268,000.

Other hedge funds also recently added to or reduced their stakes in the company. Maple Capital Management Inc. increased its position in PowerShares QQQ Trust, Series 1 by 19.0% in the 1st quarter. Maple Capital Management Inc. now owns 2,916 shares of the exchange traded fund’s stock valued at $467,000 after acquiring an additional 465 shares during the period. Millennium Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 116.7% in the 4th quarter. Millennium Management LLC now owns 210,438 shares of the exchange traded fund’s stock valued at $32,778,000 after acquiring an additional 1,472,895 shares during the period. Westside Investment Management Inc. increased its position in PowerShares QQQ Trust, Series 1 by 1.6% in the 4th quarter. Westside Investment Management Inc. now owns 20,953 shares of the exchange traded fund’s stock valued at $3,406,000 after acquiring an additional 340 shares during the period. Advisor Group Inc. increased its position in PowerShares QQQ Trust, Series 1 by 10.4% in the 4th quarter. Advisor Group Inc. now owns 507,134 shares of the exchange traded fund’s stock valued at $79,004,000 after acquiring an additional 47,745 shares during the period. Finally, Leonetti & Associates LLC increased its position in PowerShares QQQ Trust, Series 1 by 1.7% in the 4th quarter. Leonetti & Associates LLC now owns 471,227 shares of the exchange traded fund’s stock valued at $73,398,000 after acquiring an additional 7,908 shares during the period. Institutional investors and hedge funds own 41.59% of the company’s stock.

Shares of NASDAQ QQQ opened at $175.32 on Friday. PowerShares QQQ Trust, Series 1 has a 52-week low of $135.80 and a 52-week high of $177.98.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Tuesday, June 19th will be given a $0.3764 dividend. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.28. This represents a $1.51 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 18th.

PowerShares QQQ Trust, Series 1 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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