Vetr reiterated their hold rating on shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) in a research report released on Wednesday.

Shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) opened at 116.78 on Wednesday. PowerShares QQQ Trust Series 1 has a 12-month low of $94.84 and a 12-month high of $118.12. The company has a 50 day moving average price of $116.71 and a 200 day moving average price of $110.65.

A number of hedge funds have recently modified their holdings of the stock. Forward Management LLC boosted its position in PowerShares QQQ Trust Series 1 by 231.2% in the first quarter. Forward Management LLC now owns 1,340,945 shares of the company’s stock worth $146,431,000 after buying an additional 936,049 shares in the last quarter. Nomura Holdings Inc. boosted its position in PowerShares QQQ Trust Series 1 by 286.8% in the second quarter. Nomura Holdings Inc. now owns 1,205,179 shares of the company’s stock worth $129,223,000 after buying an additional 893,565 shares in the last quarter. Svenska Handelsbanken AB publ boosted its position in PowerShares QQQ Trust Series 1 by 2,743.4% in the second quarter. Svenska Handelsbanken AB publ now owns 925,795 shares of the company’s stock worth $96,892,000 after buying an additional 893,235 shares in the last quarter. Broadmark Asset Management LLC boosted its position in PowerShares QQQ Trust Series 1 by 143.7% in the first quarter. Broadmark Asset Management LLC now owns 1,302,940 shares of the company’s stock worth $142,281,000 after buying an additional 768,317 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in PowerShares QQQ Trust Series 1 during the second quarter worth $77,429,000. Institutional investors own 30.42% of the company’s stock.

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.

5 Day Chart for NASDAQ:QQQ

To view Vetr’s full report, visit Vetr’s official website.

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