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 3.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.91%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.35% in the last 1 week, and is up 5.87% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
PowerShares QQQ Trust Series 1 (NASDAQ:QQQ): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $116.28 and $116.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $117.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $116.78, notching a gain of 0.96% for the day. The total traded volume was 23,196,570 . The stock had closed at $115.67 on the previous day.
The stock has recorded a 20-day Moving Average of 3.04% and the 50-Day Moving Average is 6%. PowerShares QQQ ETF is up 10.9% in the last 3-month period. Year-to-Date the stock performance stands at 4.99%.
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.