M Holdings Securities Inc. Cuts Holdings in PowerShares QQQ Trust, Series 1 (QQQ)

M Holdings Securities Inc. cut its holdings in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,222 shares of the exchange traded fund’s stock after selling 859 shares during the period. PowerShares QQQ Trust, Series 1 comprises about 2.5% of M Holdings Securities Inc.’s portfolio, making the stock its 5th biggest position. M Holdings Securities Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $7,326,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Navellier & Associates Inc grew its position in shares of PowerShares QQQ Trust, Series 1 by 20.6% during the second quarter. Navellier & Associates Inc now owns 45,587 shares of the exchange traded fund’s stock worth $6,275,000 after buying an additional 7,778 shares in the last quarter. Paradigm Financial Advisors LLC grew its position in shares of PowerShares QQQ Trust, Series 1 by 3.1% during the second quarter. Paradigm Financial Advisors LLC now owns 69,520 shares of the exchange traded fund’s stock worth $9,569,000 after buying an additional 2,084 shares in the last quarter. Ashford Capital Management Inc. grew its position in shares of PowerShares QQQ Trust, Series 1 by 1.2% during the second quarter. Ashford Capital Management Inc. now owns 34,884 shares of the exchange traded fund’s stock worth $4,801,000 after buying an additional 399 shares in the last quarter. WFG Advisors LP grew its position in shares of PowerShares QQQ Trust, Series 1 by 13.6% during the second quarter. WFG Advisors LP now owns 22,152 shares of the exchange traded fund’s stock worth $3,049,000 after buying an additional 2,645 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of PowerShares QQQ Trust, Series 1 by 15.3% during the second quarter. EP Wealth Advisors LLC now owns 9,965 shares of the exchange traded fund’s stock worth $1,372,000 after buying an additional 1,321 shares in the last quarter. Institutional investors own 51.83% of the company’s stock.

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Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) traded up 0.225% during trading on Friday, hitting $148.644. The stock had a trading volume of 6,243,096 shares. The stock’s 50-day moving average price is $146.13 and its 200-day moving average price is $141.11. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $149.21.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, September 19th will be issued a dividend of $0.3194 per share. The ex-dividend date is Monday, September 18th. This represents a $1.28 annualized dividend and a dividend yield of 0.86%.

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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