Capital Wealth Planning LLC Purchases Shares of 13,878 PowerShares QQQ Trust, Series 1 (QQQ)

Capital Wealth Planning LLC purchased a new stake in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,878 shares of the exchange traded fund’s stock, valued at approximately $1,910,000.

Several other hedge funds have also modified their holdings of the company. WealthTrust Fairport LLC lifted its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% in the first quarter. WealthTrust Fairport LLC now owns 2,092 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its position in shares of PowerShares QQQ Trust, Series 1 by 0.5% during the 2nd quarter. Maple Capital Management Inc. now owns 2,226 shares of the exchange traded fund’s stock worth $306,000 after purchasing an additional 10 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of PowerShares QQQ Trust, Series 1 by 0.3% during the 2nd quarter. United Asset Strategies Inc. now owns 5,266 shares of the exchange traded fund’s stock worth $725,000 after purchasing an additional 15 shares during the last quarter. Benchmark Capital Advisors lifted its position in shares of PowerShares QQQ Trust, Series 1 by 0.8% during the 2nd quarter. Benchmark Capital Advisors now owns 1,915 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 15 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in shares of PowerShares QQQ Trust, Series 1 by 2.2% during the 2nd quarter. Tradewinds Capital Management LLC now owns 924 shares of the exchange traded fund’s stock worth $127,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 50.86% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 146.06 on Friday. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $146.59. The stock has a 50 day moving average price of $143.87 and a 200 day moving average price of $138.52.

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Separately, Vetr raised PowerShares QQQ Trust, Series 1 from a “strong sell” rating to a “hold” rating and set a $139.96 price objective for the company in a research report 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.

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)

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