Trading Report: Today, Pinnacle Wealth Management Advisory Group LLC Increases Stake in PowerShares QQQ Trust Series 1 (QQQ)

Today, Pinnacle Wealth Management Advisory Group LLC Increases Stake in PowerShares QQQ Trust Series 1 (QQQ)

Pinnacle Wealth Management Advisory Group LLC increased its position in PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,359 shares of the company’s stock after buying an additional 345 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in PowerShares QQQ Trust Series 1 were worth $518,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of PowerShares QQQ Trust Series 1 by 1.8% in the second quarter. BNP Paribas Arbitrage SA now owns 6,577,280 shares of the company’s stock worth $707,321,000 after buying an additional 118,500 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in PowerShares QQQ Trust Series 1 during the third quarter worth approximately $160,785,000. Nomura Holdings Inc. boosted its stake 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 during the last quarter. Svenska Handelsbanken AB publ boosted its stake in PowerShares QQQ Trust Series 1 by 21.4% in the third quarter. Svenska Handelsbanken AB publ now owns 1,124,225 shares of the company’s stock worth $9,564,897,000 after buying an additional 198,430 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in PowerShares QQQ Trust Series 1 by 21.8% in the second quarter. Ameriprise Financial Inc. now owns 1,096,253 shares of the company’s stock worth $117,133,000 after buying an additional 196,494 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) traded up 0.32% during midday trading on Friday, hitting $118.80. 7,150,949 shares of the stock were exchanged. The firm’s 50 day moving average price is $117.28 and its 200 day moving average price is $113.82. PowerShares QQQ Trust Series 1 has a 12 month low of $94.84 and a 12 month high of $119.66.

Separately, Vetr reiterated a “hold” rating on shares of PowerShares QQQ Trust Series 1 in a report on Wednesday, September 14th.

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.

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