Envestnet Asset Management Inc. Invests $311,000 in ProShares UltraShort QQQ (NYSEARCA:QID)

Envestnet Asset Management Inc. bought a new position in shares of ProShares UltraShort QQQ (NYSEARCA:QID) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,351 shares of the exchange traded fund’s stock, valued at approximately $311,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of ProShares UltraShort QQQ by 46.3% during the second quarter. Tower Research Capital LLC TRC now owns 190,928 shares of the exchange traded fund’s stock worth $5,993,000 after purchasing an additional 60,409 shares in the last quarter. Bedell Frazier Investment Counseling LLC boosted its position in ProShares UltraShort QQQ by 39.0% during the second quarter. Bedell Frazier Investment Counseling LLC now owns 87,840 shares of the exchange traded fund’s stock worth $2,757,000 after acquiring an additional 24,635 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in ProShares UltraShort QQQ by 24.7% during the second quarter. Nicholas Hoffman & Company LLC. now owns 35,477 shares of the exchange traded fund’s stock worth $1,114,000 after acquiring an additional 7,016 shares during the last quarter. DRW Securities LLC acquired a new position in ProShares UltraShort QQQ during the second quarter worth about $518,000. Finally, Morgan Stanley boosted its position in ProShares UltraShort QQQ by 179.1% during the second quarter. Morgan Stanley now owns 11,166 shares of the exchange traded fund’s stock worth $350,000 after acquiring an additional 7,165 shares during the last quarter.

QID opened at $26.01 on Friday. ProShares UltraShort QQQ has a twelve month low of $26.00 and a twelve month high of $55.72. The firm’s 50-day moving average price is $28.54 and its 200 day moving average price is $30.76.

ProShares UltraShort QQQ Profile

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization.

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Institutional Ownership by Quarter for ProShares UltraShort QQQ (NYSEARCA:QID)

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