Stocks: Shine Investment Advisory Services Inc. Buys Shares of 3,165 PowerShares QQQ Trust, Series 1 (QQQ)

Stocks: Shine Investment Advisory Services Inc. Buys Shares of 3,165 PowerShares QQQ Trust, Series 1 (QQQ)

Shine Investment Advisory Services Inc. bought a new stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the first quarter, Holdings Channel reports. The institutional investor bought 3,165 shares of the exchange traded fund’s stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of QQQ. Asset Management Group Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the fourth quarter. Asset Management Group Inc. now owns 4,681 shares of the exchange traded fund’s stock valued at $555,000 after buying an additional 12 shares in the last quarter. Boys Arnold & Co. Inc. increased its stake in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the third quarter. Boys Arnold & Co. Inc. now owns 5,108 shares of the exchange traded fund’s stock worth $606,000 after buying an additional 16 shares during the period. Quadrant Capital Group LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 3,080 shares of the exchange traded fund’s stock worth $404,000 after buying an additional 20 shares during the period. Renaissance Investment Group LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 1.2% in the first quarter. Renaissance Investment Group LLC now owns 1,950 shares of the exchange traded fund’s stock worth $258,000 after buying an additional 24 shares during the period. Finally, Empirical Financial Services LLC increased its stake in shares of PowerShares QQQ Trust, Series 1 by 1.0% in the third quarter. Empirical Financial Services LLC now owns 2,591 shares of the exchange traded fund’s stock worth $308,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 36.00% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 138.515 on Friday. The stock’s 50 day moving average price is $133.51 and its 200-day moving average price is $125.57. PowerShares QQQ Trust, Series 1 has a 12 month low of $101.75 and a 12 month high of $138.63.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Tuesday, March 21st were paid a $0.2742 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, March 17th.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

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