Coyle Financial Counsel LLC cut its stake in shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) by 0.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 31,681 shares of the company’s stock after selling 189 shares during the period. PowerShares QQQ Trust Series 1 makes up about 4.9% of Coyle Financial Counsel LLC’s investment portfolio, making the stock its 6th largest position. Coyle Financial Counsel LLC’s holdings in PowerShares QQQ Trust Series 1 were worth $3,407,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in QQQ. Arvest Bank Trust Division boosted its position in PowerShares QQQ Trust Series 1 by 38.7% in the first quarter. Arvest Bank Trust Division now owns 3,657 shares of the company’s stock worth $399,000 after buying an additional 1,021 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in shares of PowerShares QQQ Trust Series 1 during the first quarter worth $6,880,000. Sii Investments Inc. WI raised its position in shares of PowerShares QQQ Trust Series 1 by 77.7% in the first quarter. Sii Investments Inc. WI now owns 110,462 shares of the company’s stock worth $12,058,000 after buying an additional 48,301 shares during the last quarter. Investment Centers of America Inc. raised its position in shares of PowerShares QQQ Trust Series 1 by 1.4% in the first quarter. Investment Centers of America Inc. now owns 41,302 shares of the company’s stock worth $4,507,000 after buying an additional 569 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in shares of PowerShares QQQ Trust Series 1 by 1,805.5% in the first quarter. OLD National Bancorp IN now owns 47,237 shares of the company’s stock worth $5,158,000 after buying an additional 44,758 shares during the last quarter. Institutional investors and hedge funds own 30.42% of the company’s stock.

Shares of PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) traded up 0.19% during trading on Tuesday, hitting $117.00. The stock had a trading volume of 18,078,584 shares. PowerShares QQQ Trust Series 1 has a 52 week low of $94.84 and a 52 week high of $118.12. The firm has a 50 day moving average price of $116.75 and a 200-day moving average price of $110.73.

Separately, Vetr reaffirmed a “hold” rating on shares of PowerShares QQQ Trust Series 1 in a research report on Wednesday, September 14th.

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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