Arax Advisory Partners Makes New $2.48 Million Investment in ProShares Ultra QQQ $QLD

Arax Advisory Partners purchased a new position in shares of ProShares Ultra QQQ (NYSEARCA:QLD) during the fourth quarter, Holdings Channel.com reports. The firm purchased 35,192 shares of the company’s stock, valued at approximately $2,478,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Howard Capital Management Inc. boosted its holdings in shares of ProShares Ultra QQQ by 95.4% during the 4th quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock worth $864,473,000 after buying an additional 5,993,035 shares in the last quarter. Global View Capital Management LLC boosted its holdings in shares of ProShares Ultra QQQ by 116.2% during the 4th quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock worth $126,916,000 after buying an additional 968,727 shares in the last quarter. Main Street Group LTD boosted its holdings in shares of ProShares Ultra QQQ by 89.9% during the 4th quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock worth $73,168,000 after buying an additional 491,865 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of ProShares Ultra QQQ by 102.4% during the 4th quarter. Clearstead Trust LLC now owns 731,539 shares of the company’s stock worth $51,508,000 after buying an additional 370,086 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in shares of ProShares Ultra QQQ by 100.1% during the 4th quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock worth $42,199,000 after buying an additional 299,761 shares in the last quarter.

ProShares Ultra QQQ Stock Performance

ProShares Ultra QQQ stock opened at $93.38 on Monday. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46. ProShares Ultra QQQ has a 52-week low of $53.16 and a 52-week high of $101.19. The stock’s 50 day moving average price is $84.48 and its two-hundred day moving average price is $74.59.

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. The Index is calculated under a modified capitalization-weighted methodology.