Gerber Kawasaki Wealth & Investment Management raised its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,878 shares of the company’s stock after buying an additional 855 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,881,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Piershale Financial Group Inc. raised its stake in PowerShares QQQ Trust, Series 1 by 22.1% in the third quarter. Piershale Financial Group Inc. now owns 906 shares of the company’s stock valued at $108,000 after buying an additional 164 shares in the last quarter. Scopus Asset Management L.P. purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the third quarter worth $119,000. BKS Advisors LLC purchased a new position in shares of PowerShares QQQ Trust, Series 1 during the third quarter worth $121,000. Chicago Partners Investment Group LLC raised its position in shares of PowerShares QQQ Trust, Series 1 by 1,298.7% in the third quarter. Chicago Partners Investment Group LLC now owns 1,077 shares of the company’s stock worth $128,000 after buying an additional 1,000 shares during the period. Finally, Brave Asset Management Inc raised its position in shares of PowerShares QQQ Trust, Series 1 by 5.0% in the third quarter. Brave Asset Management Inc now owns 1,155 shares of the company’s stock worth $137,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 36.00% of the company’s stock.

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

PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 129.25 on Friday. PowerShares QQQ Trust, Series 1 has a 52 week low of $99.77 and a 52 week high of $129.63. The stock’s 50 day moving average price is $124.26 and its 200-day moving average price is $119.20.

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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.

5 Day Chart for NASDAQ:QQQ

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