ARGI Investment Services LLC Reduces Position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

ARGI Investment Services LLC reduced its holdings in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086 shares of the exchange traded fund’s stock after selling 346 shares during the quarter. ARGI Investment Services LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $425,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its holdings in shares of PowerShares QQQ Trust, Series 1 by 17.6% during the first quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock worth $1,660,443,000 after buying an additional 1,874,344 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of PowerShares QQQ Trust, Series 1 by 2,479.8% during the first quarter. Bank of Nova Scotia now owns 1,029,923 shares of the exchange traded fund’s stock worth $136,341,000 after buying an additional 990,000 shares in the last quarter. Bank of Tokyo Mitsubishi UFJ Ltd. bought a new position in shares of PowerShares QQQ Trust, Series 1 during the second quarter worth about $99,101,000. Quantitative Investment Management LLC grew its holdings in shares of PowerShares QQQ Trust, Series 1 by 148.0% during the first quarter. Quantitative Investment Management LLC now owns 1,173,500 shares of the exchange traded fund’s stock worth $155,347,000 after buying an additional 700,400 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of PowerShares QQQ Trust, Series 1 during the first quarter worth about $78,292,000. Institutional investors own 50.86% of the company’s stock.

PowerShares QQQ Trust, Series 1 (QQQ) opened at 145.54 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’s 50 day moving average price is $143.81 and its 200-day moving average price is $138.40.

Separately, Vetr upgraded 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 report on Tuesday, May 23rd.

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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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