SNS Financial Group LLC lessened its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 2.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,721 shares of the exchange traded fund’s stock after selling 150 shares during the period. SNS Financial Group LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $787,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in QQQ. WealthTrust Fairport LLC increased its stake in PowerShares QQQ Trust, Series 1 by 0.3% during the 1st quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock valued at $277,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its stake in PowerShares QQQ Trust, Series 1 by 0.5% during the 2nd quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock valued at $306,000 after purchasing an additional 10 shares in the last quarter. United Asset Strategies Inc. increased its stake in PowerShares QQQ Trust, Series 1 by 0.3% during the 2nd quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock valued at $725,000 after purchasing an additional 15 shares in the last quarter. Benchmark Capital Advisors increased its stake in PowerShares QQQ Trust, Series 1 by 0.8% during the 2nd quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock valued at $264,000 after purchasing an additional 15 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in PowerShares QQQ Trust, Series 1 by 2.2% during the 2nd quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock valued at $127,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 51.65% of the company’s stock.

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Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 144.21 on Friday. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $146.59. The firm’s 50-day moving average is $143.65 and its 200-day moving average is $137.96.

Separately, Vetr upgraded shares of PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target for the company in a research note on Tuesday, May 23rd.

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.

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

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