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

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 stock’s 50 day moving average price is $116.71 and its 200-day moving average price is $110.65.

Several hedge funds have recently bought and sold shares of the stock. Westbourne Investment Advisors Inc. purchased a new position in shares of PowerShares QQQ Trust Series 1 during the second quarter valued at about $108,000. Captrust Financial Advisors purchased a new position in shares of PowerShares QQQ Trust Series 1 during the second quarter valued at about $108,000. Berson & Corrado Investment Advisors LLC purchased a new position in shares of PowerShares QQQ Trust Series 1 during the second quarter valued at about $124,000. WESPAC Advisors SoCal LLC boosted its position in shares of PowerShares QQQ Trust Series 1 by 10.0% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,210 shares of the company’s stock valued at $130,000 after buying an additional 110 shares in the last quarter. Finally, Cribstone Capital Management LLC purchased a new position in shares of PowerShares QQQ Trust Series 1 during the second quarter valued at about $133,000. 30.42% of the stock is owned by institutional investors and hedge funds.

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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