The Ausdal Financial Partners Inc. Reduces stake in PowerShares QQQ Trust Series 1 (QQQ)

The Ausdal Financial Partners Inc. Reduces stake in PowerShares QQQ Trust Series 1 (QQQ)

Ausdal Financial Partners Inc. cut its position in shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,250 shares of the company’s stock after selling 286 shares during the period. Ausdal Financial Partners Inc.’s holdings in PowerShares QQQ Trust Series 1 were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Bbva Compass Bancshares Inc. increased its stake in shares of PowerShares QQQ Trust Series 1 by 0.8% in the second quarter. Bbva Compass Bancshares Inc. now owns 3,759 shares of the company’s stock worth $404,000 after buying an additional 30 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in shares of PowerShares QQQ Trust Series 1 during the second quarter worth $242,000. Gerber Kawasaki Wealth & Investment Management increased its stake in shares of PowerShares QQQ Trust Series 1 by 5.6% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 11,048 shares of the company’s stock worth $1,188,000 after buying an additional 583 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of PowerShares QQQ Trust Series 1 by 9.8% in the second quarter. Sequoia Financial Advisors LLC now owns 10,793 shares of the company’s stock worth $1,161,000 after buying an additional 960 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of PowerShares QQQ Trust Series 1 by 66.7% in the second quarter. Proficio Capital Partners LLC now owns 1,250 shares of the company’s stock worth $144,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 31.27% of the company’s stock.

Shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) traded down 0.2050% during mid-day trading on Monday, reaching $116.8999. The company’s stock had a trading volume of 7,112,519 shares. PowerShares QQQ Trust Series 1 has a 12 month low of $94.84 and a 12 month high of $119.48. The company’s 50-day moving average is $117.48 and its 200 day moving average is $112.13.

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

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.

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