Axxcess Wealth Management LLC Has $815,000 Position in ProShares UltraShort QQQ (NYSEARCA:QID)

Axxcess Wealth Management LLC reduced its holdings in ProShares UltraShort QQQ (NYSEARCA:QID) by 58.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,524 shares of the exchange traded fund’s stock after selling 31,328 shares during the period. Axxcess Wealth Management LLC owned 0.41% of ProShares UltraShort QQQ worth $815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QID. Benjamin F. Edwards & Company Inc. acquired a new stake in ProShares UltraShort QQQ in the 2nd quarter valued at $363,000. Clear Harbor Asset Management LLC bought a new position in shares of ProShares UltraShort QQQ in the 2nd quarter valued at about $728,000. B. Riley Wealth Advisors Inc. bought a new position in shares of ProShares UltraShort QQQ in the 1st quarter valued at about $1,369,000. Finally, Sollinda Capital Management LLC bought a new position in shares of ProShares UltraShort QQQ in the 2nd quarter valued at about $1,836,000.

ProShares UltraShort QQQ Price Performance

Shares of QID opened at $32.92 on Wednesday. The firm has a 50-day moving average of $36.74 and a 200-day moving average of $39.45. ProShares UltraShort QQQ has a one year low of $32.57 and a one year high of $63.90.

ProShares UltraShort QQQ Company 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.