PowerShares QQQ Trust Series 1 (QQQ) : Thursdays money flow data in PowerShares QQQ Trust Series 1 (QQQ) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $118.63 million, whereas, $115.09 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.03, in favor of the bulls. The total money flow into the stock was $3.54 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $4.5 million. The total value of block trades done on upticks was $8.2 million. The value of bearish trades on downticks was only $3.7 million.The up/down ratio in the block trades was a healthy 2.22 in favor of the bulls, suggesting strong buying in the stock by large traders. PowerShares QQQ Trust Series 1 (QQQ) fell $0.07 and traded at $108.23, down -0.06% for the day, over previous days close. On a weekly basis, the shares are 0.14% over the previous weeks close.
The stock has recorded a 20-day Moving Average of 1.27% and the 50-Day Moving Average is 1.34%.
PowerShares QQQ Trust Series 1 (NASDAQ:QQQ): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $108.39 and $108.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $108.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $108.62, notching a gain of 0.30% for the day. The total traded volume was 19,161,748 . The stock had closed at $108.30 on the previous day.
PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trusts 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. Invesco PowerShares Capital Management, LLC is the Sponsor of the Trust and The Bank of New York Mellon is the Trustee.