Murphy Middleton Hinkle & Parker Inc. Buys New Stake in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ)

Murphy Middleton Hinkle & Parker Inc. purchased a new position in PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,750 shares of the exchange traded fund’s stock, valued at approximately $740,000.

Several other large investors have also added to or reduced their stakes in QQQ. Mizuho Bank Ltd. bought a new stake in PowerShares QQQ Trust, Series 1 during the 3rd quarter valued at $145,450,000. ING Groep NV lifted its stake in PowerShares QQQ Trust, Series 1 by 1,328.0% during the 3rd quarter. ING Groep NV now owns 516,407 shares of the exchange traded fund’s stock valued at $75,111,000 after acquiring an additional 480,243 shares in the last quarter. Bailard Inc. raised its stake in shares of PowerShares QQQ Trust, Series 1 by 477.3% during the 4th quarter. Bailard Inc. now owns 420,844 shares of the exchange traded fund’s stock worth $65,551,000 after purchasing an additional 347,940 shares during the period. 3EDGE Asset Management LP bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the 4th quarter worth $35,500,000. Finally, Taiyo Life Insurance Co. bought a new stake in shares of PowerShares QQQ Trust, Series 1 during the 4th quarter worth $34,267,000. Hedge funds and other institutional investors own 39.48% of the company’s stock.

PowerShares QQQ Trust, Series 1 (QQQ) traded down $0.02 during midday trading on Friday, hitting $164.80. The stock had a trading volume of 37,015,602 shares, compared to its average volume of 46,637,031. PowerShares QQQ Trust, Series 1 has a 12 month low of $129.38 and a 12 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.

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

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