Gator Capital Management LLC Buys Shares of 12,800 PowerShares QQQ Trust, Series 1 (QQQ)

Gator Capital Management LLC bought a new position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the first quarter, according to its most recent filing with the SEC. The firm bought 12,800 shares of the exchange traded fund’s stock, valued at approximately $2,050,000. PowerShares QQQ Trust, Series 1 makes up 2.0% of Gator Capital Management LLC’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bray Capital Advisors purchased a new stake in PowerShares QQQ Trust, Series 1 in the 1st quarter valued at $107,000. Jackson Grant Investment Advisers Inc. increased its position in shares of PowerShares QQQ Trust, Series 1 by 108.6% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 774 shares of the exchange traded fund’s stock valued at $121,000 after purchasing an additional 403 shares during the last quarter. Glassman Wealth Services increased its position in shares of PowerShares QQQ Trust, Series 1 by 177.9% during the 4th quarter. Glassman Wealth Services now owns 806 shares of the exchange traded fund’s stock valued at $126,000 after purchasing an additional 516 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of PowerShares QQQ Trust, Series 1 during the 4th quarter valued at $139,000. Finally, Fieldpoint Private Securities LLC increased its position in shares of PowerShares QQQ Trust, Series 1 by 125.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 900 shares of the exchange traded fund’s stock valued at $144,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 opened at $169.60 on Thursday, MarketBeat.com reports. PowerShares QQQ Trust, Series 1 has a 1 year low of $135.80 and a 1 year high of $175.21.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Tuesday, March 20th were given a dividend of $0.2766 per share. This represents a $1.11 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Monday, March 19th.

About PowerShares QQQ Trust, Series 1

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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Institutional Ownership by Quarter for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

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