PowerShares QQQ Trust and Penn National Gaming Among Most Active Stocks in Nasdaq Pre-Market

By Christopher Witrak  NOV 16, 2012 9:16 AM

Dell was down this morning.


MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the Nasdaq (INDEXNASDAQ:.IXIC) were PowerShares QQQ Trust (NASDAQ:QQQ), Penn National Gaming (NASDAQ:PENN), and Dell (NASDAQ:DELL) as of 9:00 a.m. EST.

Investors exchanged 2,382,501 shares of PowerShares QQQ Trust, which was up $0.20, or 0.32%.

Investors traded 640,867 shares of Penn National Gaming, which was up $13.39, or 35.60%. According to Bloomberg, Penn National Gaming will split itself into two publicly traded companies. The company now owns 29 casinos and racetrackers and a real estate investment trust, or REIT, will be made containing 17 of the properties. This REIT will be the first casino-focused REIT. Penn National Gaming will continue to run most of the casinos and racetracks. Shareholders will receive a $5.35 dividend plus stock in the REIT.

Investors also traded 349,557 shares of Dell, which was down $0.19, or 1.99%. Dell reported its third-quarter financial results yesterday. Its net income decreased 47% from $893 million, or $0.49 per share, in the prior-year quarter to $475 million, or $0.27 per share. Revenue decreased 11% to $13.7 billion.

(See also: Pre-Market Primer: Obama and Boehner Meet Today; Google Looking to Become a Wireless Provider.)

Twitter: @ChrisWitrak
No positions in stocks mentioned.