BHK Investment Advisors LLC bought a new stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,754 shares of the exchange traded fund’s stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Mizuho Bank Ltd. purchased a new position in PowerShares QQQ Trust, Series 1 in the third quarter valued at about $145,450,000. ING Groep NV grew its stake in PowerShares QQQ Trust, Series 1 by 1,328.0% in the third quarter. ING Groep NV now owns 516,407 shares of the exchange traded fund’s stock valued at $75,111,000 after purchasing an additional 480,243 shares in the last quarter. Bailard Inc. grew its stake in PowerShares QQQ Trust, Series 1 by 477.3% in the fourth quarter. Bailard Inc. now owns 420,844 shares of the exchange traded fund’s stock valued at $65,551,000 after purchasing an additional 347,940 shares in the last quarter. 3EDGE Asset Management LP purchased a new position in PowerShares QQQ Trust, Series 1 in the fourth quarter valued at about $35,500,000. Finally, Taiyo Life Insurance Co. purchased a new position in PowerShares QQQ Trust, Series 1 in the fourth quarter valued at about $34,267,000. Hedge funds and other institutional investors own 37.84% of the company’s stock.

Shares of PowerShares QQQ Trust, Series 1 (QQQ) opened at $159.69 on Wednesday. PowerShares QQQ Trust, Series 1 has a 52 week low of $127.74 and a 52 week high of $170.95.

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PowerShares QQQ Trust, Series 1 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ).

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

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