Hilton Capital Management LLC lifted its stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,100 shares of the exchange traded fund’s stock after purchasing an additional 950 shares during the period. Hilton Capital Management LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $3,179,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in PowerShares QQQ Trust, Series 1 by 17.6% during the 1st 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 during the last quarter. Bank of Nova Scotia lifted its holdings in PowerShares QQQ Trust, Series 1 by 2,479.8% during the 1st 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 during the last quarter. Bank of Tokyo Mitsubishi UFJ Ltd. purchased a new stake in PowerShares QQQ Trust, Series 1 during the 2nd quarter worth about $99,101,000. Quantitative Investment Management LLC lifted its holdings in PowerShares QQQ Trust, Series 1 by 148.0% during the 1st 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 during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in PowerShares QQQ Trust, Series 1 during the 1st quarter worth about $78,292,000. Hedge funds and other institutional investors own 51.65% of the company’s stock.

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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 target for the company in a report on Tuesday, May 23rd.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at 146.00 on Tuesday. PowerShares QQQ Trust, Series 1 has a one year low of $113.45 and a one year high of $146.59. The firm’s 50-day moving average price is $143.43 and its 200-day moving average price is $137.51.

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

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