Empirical Financial Services LLC Has $683,000 Position in PowerShares QQQ Trust, Series 1 (QQQ)

Empirical Financial Services LLC increased its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,963 shares of the exchange traded fund’s stock after buying an additional 123 shares during the quarter. Empirical Financial Services LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. Morgan Stanley increased its stake in PowerShares QQQ Trust, Series 1 by 17.6% in the first quarter. Morgan Stanley now owns 12,542,999 shares of the exchange traded fund’s stock worth $1,660,443,000 after purchasing an additional 1,874,344 shares during the period. CHURCHILL MANAGEMENT Corp increased its stake in PowerShares QQQ Trust, Series 1 by 3.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 3,518,865 shares of the exchange traded fund’s stock worth $484,337,000 after purchasing an additional 130,587 shares during the period. Ameriprise Financial Inc. increased its stake in PowerShares QQQ Trust, Series 1 by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 1,413,920 shares of the exchange traded fund’s stock worth $186,652,000 after purchasing an additional 69,876 shares during the period. US Bancorp DE increased its stake in PowerShares QQQ Trust, Series 1 by 11.7% in the second quarter. US Bancorp DE now owns 1,242,292 shares of the exchange traded fund’s stock worth $170,990,000 after purchasing an additional 130,266 shares during the period. Finally, Quantitative Investment Management LLC increased its stake in PowerShares QQQ Trust, Series 1 by 148.0% in 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 purchasing an additional 700,400 shares during the period. Institutional investors own 50.86% of the company’s stock.

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

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 145.87 on Tuesday. PowerShares QQQ Trust, Series 1 has a 1-year low of $113.45 and a 1-year high of $146.59. The firm has a 50-day moving average price of $143.63 and a 200-day moving average price of $138.12.

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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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