PowerShares QQQ Trust Series 1 (QQQ) has risen sharply, recording gains of 1.35% in the past 4 weeks. However, the stock has corrected -0.41% in the past 1 week, providing a good buying opportunity on dips. PowerShares QQQ Trust Series 1 (QQQ) : Traders are bullish on PowerShares QQQ Trust Series 1 (QQQ) as it has outperformed the S&P 500 by a wide margin of 1.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.25%, relative to the S&P 500.
The stock has recorded a twenty day Moving Average of 0.1% and the fifty day Moving Average is 3.8%. PowerShares QQQ ETF is up 6.32% in the last three month period. Year-to-Date the stock performance stands at 4.99%.
PowerShares QQQ Trust Series 1 (NASDAQ:QQQ): stock turned positive on Friday. Though the stock opened at $116.66, the bulls momentum made the stock top out at $117.54 level for the day. The stock recorded a low of $116.08 and closed the trading day at $116.78, in the green by 0.15%. The total traded volume for the day was 23,895,963. The stock had closed at $116.61 in the previous days trading.
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.