IPG Investment Advisors LLC lessened its holdings in shares of PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) by 17.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,865 shares of the exchange traded fund’s stock after selling 3,670 shares during the quarter. PowerShares QQQ Trust, Series 1 accounts for 1.2% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. IPG Investment Advisors LLC’s holdings in PowerShares QQQ Trust, Series 1 were worth $2,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewFocus Financial Group LLC bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $396,000. Associated Banc Corp bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $212,000. NuWave Investment Management LLC bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $235,000. Wealthstreet Investment Advisors LLC bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $7,728,000. Finally, Mogy Joel R Investment Counsel Inc. bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the fourth quarter valued at approximately $208,000. 37.84% of the stock is currently owned by institutional investors.

Shares of PowerShares QQQ Trust, Series 1 (NASDAQ QQQ) opened at $156.10 on Monday. PowerShares QQQ Trust, Series 1 has a twelve month low of $127.02 and a twelve month high of $170.95.

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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.

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

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