Adell Harriman & Carpenter Inc. Trims Stake in ProShares Ultra QQQ (NYSEARCA:QLD)

Adell Harriman & Carpenter Inc. lessened its position in ProShares Ultra QQQ (NYSEARCA:QLD) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,820 shares of the company’s stock after selling 2,045 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in ProShares Ultra QQQ were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. First National Corp MA ADV increased its stake in ProShares Ultra QQQ by 5.5% in the fourth quarter. First National Corp MA ADV now owns 91,788 shares of the company’s stock valued at $9,935,000 after acquiring an additional 4,774 shares during the last quarter. Clay Northam Wealth Management LLC bought a new position in ProShares Ultra QQQ in the fourth quarter valued at $277,000. Financial Life Planners bought a new position in shares of ProShares Ultra QQQ during the fourth quarter valued at about $51,000. Ridgepath Capital Management LLC bought a new position in shares of ProShares Ultra QQQ during the fourth quarter valued at about $10,787,000. Finally, Foundations Investment Advisors LLC grew its stake in shares of ProShares Ultra QQQ by 11.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 11,237 shares of the company’s stock valued at $1,216,000 after buying an additional 1,131 shares during the last quarter.

ProShares Ultra QQQ Trading Up 0.8 %

Shares of NYSEARCA:QLD opened at $118.54 on Friday. The stock’s 50-day moving average price is $112.66 and its 200-day moving average price is $104.10. ProShares Ultra QQQ has a 12-month low of $75.28 and a 12-month high of $120.68. The stock has a market capitalization of $8.11 billion, a P/E ratio of 25.00 and a beta of 2.55.

ProShares Ultra QQQ Company 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.