PowerShares QQQ Trust, Series 1 (the Trust) is a unit investment trust and an exchange-traded fund (ETF) that issues PowerShares QQQ Index Tracking Stock (PowerShares QQQ Shares). PowerShares QQQ Shares represents undivided ownership interests in the portfolio of stocks held by the Trust. The Trust was created to provide investors with the opportunity to purchase units of beneficial interests in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of all of the securities as the components securities of the NASDAQ-100 Index. The Trust�s investment objective is to provide investment results that correspond to the price and yield performance of the Index (Index Securities). Its trustee and sponsor are The Bank of New York Mellon and Invesco PowerShares Capital Management LLC.