Sand Hill Global Advisors LLC purchased a new stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,894 shares of the exchange traded fund’s stock, valued at approximately $261,000.

Several other hedge funds have also recently made changes to their positions in QQQ. Weatherly Asset Management L. P. boosted its stake in shares of PowerShares QQQ Trust, Series 1 by 10.4% during the first quarter. Weatherly Asset Management L. P. now owns 4,698 shares of the exchange traded fund’s stock valued at $622,000 after purchasing an additional 441 shares in the last quarter. SPC Financial Inc. boosted its stake in shares of PowerShares QQQ Trust, Series 1 by 2.2% during the first quarter. SPC Financial Inc. now owns 46,951 shares of the exchange traded fund’s stock valued at $6,215,000 after purchasing an additional 1,020 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of PowerShares QQQ Trust, Series 1 during the first quarter valued at about $3,382,000. Bach Investment Advisors Ltd boosted its stake in shares of PowerShares QQQ Trust, Series 1 by 33.7% during the first quarter. Bach Investment Advisors Ltd now owns 20,131 shares of the exchange traded fund’s stock valued at $2,664,000 after purchasing an additional 5,075 shares in the last quarter. Finally, Ironwood Financial llc boosted its stake in shares of PowerShares QQQ Trust, Series 1 by 0.4% during the first quarter. Ironwood Financial llc now owns 12,143 shares of the exchange traded fund’s stock valued at $1,607,000 after purchasing an additional 45 shares in the last quarter. 50.86% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 146.22 on Wednesday. The stock’s 50 day moving average price is $143.70 and its 200-day moving average price is $138.18. PowerShares QQQ Trust, Series 1 has a 52 week low of $113.45 and a 52 week high of $146.59.

Separately, Vetr raised 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 research note on Tuesday, May 23rd.

PowerShares QQQ Trust, Series 1 Company Profile

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

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