PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) was the recipient of some unusual options trading on Thursday. Investors acquired 652,577 put options on the stock. This is an increase of approximately 125% compared to the typical daily volume of 289,958 put options.

Large investors have recently added to or reduced their stakes in the company. WealthTrust Fairport LLC raised its stake in PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 10 shares during the period. United Asset Strategies Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 0.3% in the second quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock worth $725,000 after buying an additional 15 shares during the period. Benchmark Capital Advisors raised its stake in PowerShares QQQ Trust, Series 1 by 0.8% in the second quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock worth $264,000 after buying an additional 15 shares during the period. Finally, HMS Capital Management LLC raised its stake in PowerShares QQQ Trust, Series 1 by 0.5% in the second quarter. HMS Capital Management LLC now owns 3,491 shares of the exchange traded fund’s stock worth $480,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 39.25% of the company’s stock.

Separately, Vetr raised PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 target price on the stock in a research note on Tuesday, May 23rd.

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

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

ILLEGAL ACTIVITY WARNING: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/13/traders-purchase-large-volume-of-powershares-qqq-trust-series-1-put-options-nasdaqqqq.html.

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.

Receive News & Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related companies with MarketBeat.com's FREE daily email newsletter.