Sowell Financial Services LLC Has $2.26 Million Position in ProShares Ultra QQQ (NYSEARCA:QLD)

Sowell Financial Services LLC raised its stake in ProShares Ultra QQQ (NYSEARCA:QLD) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,386 shares of the company’s stock after acquiring an additional 875 shares during the period. Sowell Financial Services LLC’s holdings in ProShares Ultra QQQ were worth $2,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC acquired a new stake in shares of ProShares Ultra QQQ in the 4th quarter valued at $33,000. Compass Planning Associates Inc bought a new stake in shares of ProShares Ultra QQQ during the 4th quarter worth $40,000. Cape Investment Advisory Inc. acquired a new stake in ProShares Ultra QQQ in the fourth quarter valued at about $54,000. IFP Advisors Inc grew its position in ProShares Ultra QQQ by 226.1% in the fourth quarter. IFP Advisors Inc now owns 499 shares of the company’s stock valued at $54,000 after acquiring an additional 346 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in ProShares Ultra QQQ in the fourth quarter valued at about $82,000.

ProShares Ultra QQQ Price Performance

Shares of ProShares Ultra QQQ stock opened at $110.57 on Tuesday. The company’s 50 day moving average price is $96.02 and its two-hundred day moving average price is $102.44. The firm has a market capitalization of $8.09 billion, a P/E ratio of 31.03 and a beta of 2.36. ProShares Ultra QQQ has a fifty-two week low of $64.72 and a fifty-two week high of $120.68.

ProShares Ultra QQQ Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.