The Lowe fs LLC Reduces Stake in PowerShares QQQ Trust Series 1 (QQQ)

The Lowe fs LLC Reduces Stake in PowerShares QQQ Trust Series 1 (QQQ)

Lowe fs LLC decreased its stake in shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,161 shares of the company’s stock after selling 498 shares during the period. PowerShares QQQ Trust Series 1 makes up about 10.4% of Lowe fs LLC’s investment portfolio, making the stock its 3rd largest position. Lowe fs LLC’s holdings in PowerShares QQQ Trust Series 1 were worth $15,334,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of PowerShares QQQ Trust Series 1 by 3.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 898,921 shares of the company’s stock valued at $96,670,000 after buying an additional 30,433 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of PowerShares QQQ Trust Series 1 by 3.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 502,185 shares of the company’s stock valued at $54,798,000 after buying an additional 15,285 shares during the period. Broadmark Asset Management LLC increased its position in shares of 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 valued at $142,281,000 after buying an additional 768,317 shares during the period. First Republic Investment Management Inc. increased its position in shares of PowerShares QQQ Trust Series 1 by 6.0% in the first quarter. First Republic Investment Management Inc. now owns 702,131 shares of the company’s stock valued at $76,672,000 after buying an additional 39,437 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position 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 valued at $707,321,000 after buying an additional 118,500 shares during the period. Institutional investors and hedge funds own 31.00% of the company’s stock.

PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) opened at 117.00 on Friday. PowerShares QQQ Trust Series 1 has a 1-year low of $94.84 and a 1-year high of $119.48. The company has a 50-day moving average of $117.47 and a 200-day moving average of $112.06.

Separately, Vetr reissued a “hold” rating on shares of PowerShares QQQ Trust Series 1 in a research note 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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