PNC Financial Services Group Inc. reduced its stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 888,659 shares of the exchange traded fund’s stock after selling 69,402 shares during the period. PNC Financial Services Group Inc.’s holdings in PowerShares QQQ Trust, Series 1 were worth $122,314,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. HMS Capital Management LLC raised its position in PowerShares QQQ Trust, Series 1 by 0.5% during the 2nd quarter. HMS Capital Management LLC now owns 3,491 shares of the exchange traded fund’s stock worth $480,000 after purchasing an additional 19 shares during the last quarter. Formidable Asset Management LLC raised its position in PowerShares QQQ Trust, Series 1 by 1.7% during the 2nd quarter. Formidable Asset Management LLC now owns 5,900 shares of the exchange traded fund’s stock worth $812,000 after purchasing an additional 100 shares during the last quarter. Investment Centers of America Inc. raised its position in PowerShares QQQ Trust, Series 1 by 52.0% during the 2nd quarter. Investment Centers of America Inc. now owns 36,525 shares of the exchange traded fund’s stock worth $5,038,000 after purchasing an additional 12,499 shares during the last quarter. Destination Wealth Management raised its position in PowerShares QQQ Trust, Series 1 by 61.7% during the 2nd quarter. Destination Wealth Management now owns 4,698 shares of the exchange traded fund’s stock worth $647,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in PowerShares QQQ Trust, Series 1 by 2.4% during the 2nd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 25,413 shares of the exchange traded fund’s stock worth $3,498,000 after purchasing an additional 590 shares during the last quarter. 50.80% of the stock is owned by institutional investors and hedge funds.

PowerShares QQQ Trust, Series 1 (QQQ) traded up 0.07% on Monday, hitting $146.16. The stock had a trading volume of 2,626,540 shares. The stock’s 50-day moving average is $143.87 and its 200-day moving average is $138.52. 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 target price for the company in a research report on Tuesday, May 23rd.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group Inc. Has $122.31 Million Position in PowerShares QQQ Trust, Series 1 (QQQ)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/09/18/pnc-financial-services-group-inc-has-122-31-million-position-in-powershares-qqq-trust-series-1-qqq.html.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

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

Receive News & Stock Ratings for PowerShares QQQ Trust Series 1 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerShares QQQ Trust Series 1 and related stocks with our FREE daily email newsletter.