Vetr Community Becoming More Constructive On The PowerShares QQQ Trust, Series 1 ETF

The PowerShares QQQ Trust, Series 1 (ETF) QQQ has recuperated almost 12.5 percent since their February lows, but are still down about 3.15 percent year-to-date. Moreover, over the past five trading days, the stock tumbled almost 2 percent.

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Following said decline, the Vetr community decided upgrade its rating on the ETF on Monday, from 2.5 Stars (Sell) to 3.0 Stars (Hold) - out of a possible 5.0 Stars rating. The new rating better reflects the crowd’s average price target of $106.26, which implies a downside potential of roughly 2 percent.

Interestingly, it should be noted that, 88 percent of the crowd’s ratings are bullish, meaning that most raters in the Vetr community believe this is a security to Buy, even though upside is limited for now.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.