PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 47,696,068 shares, a decrease of 20.6% from the September 15th total of 60,054,076 shares. Based on an average daily volume of 22,176,392 shares, the days-to-cover ratio is currently 2.2 days.

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

Several hedge funds have recently made changes to their positions in QQQ. Forward Management LLC raised its stake in shares of PowerShares QQQ Trust Series 1 by 231.2% in the first quarter. Forward Management LLC now owns 1,340,945 shares of the company’s stock valued at $146,431,000 after buying an additional 936,049 shares during the period. Nomura Holdings Inc. raised its stake in shares of 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 valued at $129,223,000 after buying an additional 893,565 shares during the period. Svenska Handelsbanken AB publ raised its stake in shares of PowerShares QQQ Trust Series 1 by 2,743.4% in the second quarter. Svenska Handelsbanken AB publ now owns 925,795 shares of the company’s stock valued at $96,892,000 after buying an additional 893,235 shares during the period. Broadmark Asset Management LLC raised its stake 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. Finally, Mizuho Bank Ltd. bought a new stake in shares of PowerShares QQQ Trust Series 1 during the second quarter valued at about $77,429,000. Institutional investors and hedge funds own 31.27% of the company’s stock.

PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) opened at 117.86 on Wednesday. PowerShares QQQ Trust Series 1 has a 52 week low of $94.84 and a 52 week high of $119.48. The firm has a 50-day moving average of $117.51 and a 200-day moving average of $112.28.

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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