Pinnacle Associates Ltd. decreased its position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 4.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,254 shares of the exchange traded fund’s stock after selling 1,064 shares during the period. Pinnacle Associates Ltd.’s holdings in PowerShares QQQ Trust, Series 1 were worth $3,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of QQQ. First Financial Corp IN boosted its holdings in PowerShares QQQ Trust, Series 1 by 189.3% in the second quarter. First Financial Corp IN now owns 810 shares of the exchange traded fund’s stock valued at $111,000 after acquiring an additional 530 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in PowerShares QQQ Trust, Series 1 by 2.2% in the second quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock valued at $127,000 after acquiring an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in PowerShares QQQ Trust, Series 1 in the first quarter valued at $125,000. Botty Investors LLC bought a new stake in PowerShares QQQ Trust, Series 1 in the first quarter valued at $132,000. Finally, Exane Derivatives bought a new stake in PowerShares QQQ Trust, Series 1 in the second quarter valued at $153,000. Hedge funds and other institutional investors own 51.65% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 144.21 on Friday. PowerShares QQQ Trust, Series 1 has a 12-month low of $113.45 and a 12-month high of $146.59. The company has a 50-day moving average of $143.65 and a 200 day moving average of $137.96.

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Separately, Vetr upgraded shares of PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price target on the stock in a report on Tuesday, May 23rd.

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.

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

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