ELM Advisors LLC Trims Holdings in PowerShares QQQ Trust, Series 1 (QQQ)

ELM Advisors LLC trimmed its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,173 shares of the exchange traded fund’s stock after selling 840 shares during the quarter. PowerShares QQQ Trust, Series 1 makes up 1.1% of ELM Advisors LLC’s holdings, making the stock its 20th largest position. ELM Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QQQ. Ameriprise Financial Inc. grew its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,599,211 shares of the exchange traded fund’s stock worth $234,183,000 after purchasing an additional 4,448 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in shares of PowerShares QQQ Trust, Series 1 by 2.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 1,215,001 shares of the exchange traded fund’s stock worth $176,721,000 after acquiring an additional 28,452 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,170,554 shares of the exchange traded fund’s stock worth $161,115,000 after acquiring an additional 86,838 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the 3rd quarter worth approximately $145,450,000. Finally, First Republic Investment Management Inc. boosted its position in shares of PowerShares QQQ Trust, Series 1 by 6.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 805,050 shares of the exchange traded fund’s stock worth $117,094,000 after acquiring an additional 51,334 shares in the last quarter. 39.36% of the stock is currently owned by institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) traded down $0.47 during trading hours on Tuesday, reaching $164.02. 41,189,481 shares of the company traded hands, compared to its average volume of 29,507,881. PowerShares QQQ Trust, Series 1 has a fifty-two week low of $122.43 and a fifty-two week high of $166.41.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th were given a dividend of $0.3294 per share. The ex-dividend date of this dividend was Monday, December 18th. This is a boost from PowerShares QQQ Trust, Series 1’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 0.80%.

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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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