Trade Report: The Huntington National Bank reduces its investment in PowerShares QQQ Trust Series 1 (QQQ)

The Huntington National Bank reduces its investment in PowerShares QQQ Trust Series 1 (QQQ)

Huntington National Bank reduced its position in shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 35.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,937 shares of the company’s stock after selling 5,014 shares during the period. Huntington National Bank’s holdings in PowerShares QQQ Trust Series 1 were worth $961,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sonata Capital Group Inc. increased its position in PowerShares QQQ Trust Series 1 by 15.9% in the second quarter. Sonata Capital Group Inc. now owns 2,550 shares of the company’s stock worth $274,000 after buying an additional 350 shares during the period. Advisory Services Network LLC increased its position in PowerShares QQQ Trust Series 1 by 18.2% in the second quarter. Advisory Services Network LLC now owns 18,031 shares of the company’s stock worth $1,939,000 after buying an additional 2,781 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in PowerShares QQQ Trust Series 1 by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 63,066 shares of the company’s stock worth $6,782,000 after buying an additional 3,532 shares during the period. Pacific Financial Group Inc. bought a new position in PowerShares QQQ Trust Series 1 during the second quarter worth approximately $4,402,000. Finally, Cardan Capital Partners LLC increased its position in PowerShares QQQ Trust Series 1 by 923.8% in the second quarter. Cardan Capital Partners LLC now owns 53,033 shares of the company’s stock worth $5,703,000 after buying an additional 47,853 shares during the period. 31.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) traded down 0.27% on Monday, reaching $116.82. 14,182,694 shares of the company’s stock traded hands. The company has a 50 day moving average of $117.48 and a 200-day moving average of $112.23. PowerShares QQQ Trust Series 1 has a 52 week low of $94.84 and a 52 week high of $119.48.

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