home Latest News Gerber Kawasaki Wealth & Investment Management Reduces Position in PowerShares QQQ Trust, Series 1 (QQQ) – The Cerbat Gem

Gerber Kawasaki Wealth & Investment Management Reduces Position in PowerShares QQQ Trust, Series 1 (QQQ) – The Cerbat Gem

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Gerber Kawasaki Wealth & Investment Management lowered its position in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,718 shares of the exchange traded fund’s stock after selling 2,160 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in PowerShares QQQ Trust, Series 1 were worth $1,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QQQ. Bailard Inc. increased its position in PowerShares QQQ Trust, Series 1 by 609.2% in the third quarter. Bailard Inc. now owns 509,230 shares of the exchange traded fund’s stock worth $60,456,000 after buying an additional 437,427 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its position in PowerShares QQQ Trust, Series 1 by 17.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 5,795 shares of the exchange traded fund’s stock worth $767,000 after buying an additional 855 shares in the last quarter. NTV Asset Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 9.6% in the third quarter. NTV Asset Management LLC now owns 65,620 shares of the exchange traded fund’s stock worth $7,790,000 after buying an additional 5,751 shares in the last quarter. Bessemer Group Inc. increased its position in PowerShares QQQ Trust, Series 1 by 5.3% in the fourth quarter. Bessemer Group Inc. now owns 13,994 shares of the exchange traded fund’s stock worth $1,658,000 after buying an additional 700 shares in the last quarter. Finally, V Wealth Management LLC increased its position in PowerShares QQQ Trust, Series 1 by 533.0% in the first quarter. V Wealth Management LLC now owns 21,762 shares of the exchange traded fund’s stock worth $2,880,000 after buying an additional 18,324 shares in the last quarter. Hedge funds and other institutional investors own 36.00% of the company’s stock.

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

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) opened at 143.46 on Friday. The company’s 50-day moving average price is $137.38 and its 200 day moving average price is $128.27. PowerShares QQQ Trust, Series 1 has a 12-month low of $101.75 and a 12-month high of $143.49.

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

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.

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