PowerShares QQQ Trust, Series 1 Target of Unusually Large Options Trading (NASDAQ:QQQ)

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) was the target of some unusual options trading on Thursday. Traders purchased 652,577 put options on the stock. This is an increase of 125% compared to the average volume of 289,958 put options.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 142.10 on Friday. The company’s 50 day moving average price is $141.65 and its 200 day moving average price is $135.65. PowerShares QQQ Trust, Series 1 has a 52-week low of $113.45 and a 52-week high of $145.96.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Tuesday, June 20th were given a $0.3784 dividend. This is an increase from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 16th. This represents a $1.51 annualized dividend and a yield of 1.07%.

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.

A number of institutional investors have recently modified their holdings of QQQ. First Financial Corp IN increased its position in shares of PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock valued at $111,000 after buying an additional 530 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 48.5% in the second quarter. UBS Asset Management Americas Inc. now owns 891 shares of the exchange traded fund’s stock valued at $123,000 after buying an additional 291 shares during the last quarter. Tradewinds Capital Management LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 2.2% in the second quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock valued at $127,000 after buying an additional 20 shares during the last quarter. Bartlett & Co. LLC increased its position 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 during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $125,000. Hedge funds and other institutional investors own 39.25% of the company’s stock.

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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.

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