PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) was the target of a significant growth in short interest in the month of October. As of October 13th, there was short interest totalling 56,987,119 shares, a growth of 3.0% from the September 29th total of 55,323,018 shares. Based on an average trading volume of 20,720,988 shares, the days-to-cover ratio is presently 2.8 days. Approximately 15.8% of the shares of the company are short sold.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 147.43 on Thursday. The firm has a 50-day moving average of $146.38 and a 200 day moving average of $141.63. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $149.21.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 18th.

Hedge funds have recently bought and sold shares of the business. Buckingham Asset Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 21.1% during the 2nd quarter. Buckingham Asset Management LLC now owns 10,528 shares of the exchange traded fund’s stock worth $1,449,000 after buying an additional 1,835 shares during the period. Beaton Management Co. Inc. bought a new position in PowerShares QQQ Trust, Series 1 during the 2nd quarter worth $745,000. First Commonwealth Financial Corp PA bought a new position in PowerShares QQQ Trust, Series 1 during the 2nd quarter worth $487,000. Wexford Capital LP increased its position in PowerShares QQQ Trust, Series 1 by 33.9% during the 1st quarter. Wexford Capital LP now owns 183,383 shares of the exchange traded fund’s stock worth $24,276,000 after buying an additional 46,395 shares during the period. Finally, NTV Asset Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 1.0% during the 2nd quarter. NTV Asset Management LLC now owns 70,406 shares of the exchange traded fund’s stock worth $9,690,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 51.86% 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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