Cohen Klingenstein LLC lowered its stake in shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,847 shares of the company’s stock after selling 10,020 shares during the period. PowerShares QQQ Trust Series 1 accounts for about 8.3% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 2nd largest position. Cohen Klingenstein LLC’s holdings in PowerShares QQQ Trust Series 1 were worth $47,589,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QQQ. Northwestern Mutual Wealth Management Co. increased its stake 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. BNP Paribas Arbitrage SA increased 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 valued at $707,321,000 after buying an additional 118,500 shares during the period. IFC Holdings Incorporated FL increased its stake in shares of PowerShares QQQ Trust Series 1 by 16.5% in the second quarter. IFC Holdings Incorporated FL now owns 28,422 shares of the company’s stock valued at $3,068,000 after buying an additional 4,016 shares during the period. SOL Capital Management CO increased its stake in shares of PowerShares QQQ Trust Series 1 by 5.3% in the second quarter. SOL Capital Management CO now owns 114,317 shares of the company’s stock valued at $12,294,000 after buying an additional 5,752 shares during the period. Finally, Destination Wealth Management increased its stake in shares of PowerShares QQQ Trust Series 1 by 155.1% in the second quarter. Destination Wealth Management now owns 12,578 shares of the company’s stock valued at $1,353,000 after buying an additional 7,648 shares during the period. Hedge funds and other institutional investors own 33.53% of the company’s stock.

Institutional Ownership by Quarter for PowerShares QQQ Trust Series 1 (NASDAQ:QQQ)

Shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) traded down 0.22% during midday trading on Wednesday, hitting $118.68. 4,357,782 shares of the stock were exchanged. The firm’s 50-day moving average is $117.24 and its 200-day moving average is $114.11. PowerShares QQQ Trust Series 1 has a 12 month low of $94.84 and a 12 month high of $119.66.

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Separately, Vetr reaffirmed 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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