Prosperity Wealth Management Inc. Has $604,000 Stake in ProShares Ultra QQQ (NYSEARCA:QLD)

Prosperity Wealth Management Inc. lowered its holdings in ProShares Ultra QQQ (NYSEARCA:QLD) by 38.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,942 shares of the company’s stock after selling 5,028 shares during the period. Prosperity Wealth Management Inc.’s holdings in ProShares Ultra QQQ were worth $604,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC raised its position in ProShares Ultra QQQ by 166.2% in the 1st quarter. Sowell Financial Services LLC now owns 360,577 shares of the company’s stock worth $12,646,000 after purchasing an additional 225,142 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of ProShares Ultra QQQ during the first quarter worth $354,000. Bank of America Corp DE acquired a new position in shares of ProShares Ultra QQQ during the first quarter valued at $1,253,000. LPL Financial LLC lifted its stake in shares of ProShares Ultra QQQ by 15.9% during the second quarter. LPL Financial LLC now owns 13,840 shares of the company’s stock valued at $573,000 after acquiring an additional 1,894 shares during the period. Finally, Renaissance Technologies LLC bought a new position in ProShares Ultra QQQ in the second quarter valued at about $203,000.

ProShares Ultra QQQ Stock Performance

NYSEARCA:QLD traded down $1.73 on Wednesday, hitting $80.39. 1,728,658 shares of the stock were exchanged, compared to its average volume of 3,692,814. ProShares Ultra QQQ has a 52 week low of $45.98 and a 52 week high of $89.74. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55. The company’s 50-day moving average price is $85.58 and its 200 day moving average price is $75.18.

About ProShares Ultra QQQ

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.