Powershares QQQ (NASDAQ:QQQ)’s Trend Unknown, Especially After Increased Shorts

June 20, 2017 - By Clifton Ray

 Powershares QQQ (NASDAQ:QQQ)’s Trend Unknown, Especially After Increased Shorts

The stock of Powershares QQQ (NASDAQ:QQQ) registered an increase of 7.59% in short interest. QQQ’s total short interest was 55.01M shares in June as published by FINRA. Its up 7.59% from 51.13M shares, reported previously. With 20.99M shares average volume, it will take short sellers 3 days to cover their QQQ’s short positions.

About 2.99 million shares traded. PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) has risen 30.89% since June 20, 2016 and is uptrending. It has outperformed by 14.19% the S&P500.

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The ETF has market cap of $52.61 billion. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. It currently has negative earnings. 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.

More notable recent PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) news were published by: Investorplace.com which released: “Bet on Tech Stocks With This PowerShares QQQ Trust, Series 1 (ETF) (QQQ) Trade” on December 14, 2016, also Investorplace.com with their article: “Trade of the Day: Powershares QQQ Trust Series 1 (QQQ) ETF Is High Risk, High …” published on January 10, 2017, Benzinga.com published: “Carter Worth And Mike Khouw’s PowerShares QQQ Trust, Series 1 (ETF) Trade” on October 22, 2016. More interesting news about PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) were released by: Bloomberg.com and their article: “How to Play the PowerShares QQQ Trust Series 1 ETF” published on June 12, 2017 as well as Etfdailynews.com‘s news article titled: “PowerShares QQQ ETF Plunges Most In Months As FANG Stocks Crumble” with publication date: June 09, 2017.

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