Parallel Advisors LLC Lowers Holdings in ProShares UltraPro QQQ $TQQQ

Parallel Advisors LLC lowered its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 45.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,413 shares of the exchange traded fund’s stock after selling 11,320 shares during the period. Parallel Advisors LLC’s holdings in ProShares UltraPro QQQ were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sherman Wealth Management LLC purchased a new position in shares of ProShares UltraPro QQQ during the fourth quarter valued at about $2,249,000. Independent Financial Group LLC bought a new position in ProShares UltraPro QQQ during the first quarter valued at approximately $12,430,000. Spire Wealth Management boosted its stake in ProShares UltraPro QQQ by 4,456.0% during the fourth quarter. Spire Wealth Management now owns 28,657 shares of the exchange traded fund’s stock valued at $1,511,000 after buying an additional 28,028 shares during the last quarter. Q3 Asset Management grew its holdings in ProShares UltraPro QQQ by 353.5% during the 4th quarter. Q3 Asset Management now owns 234,413 shares of the exchange traded fund’s stock valued at $12,358,000 after buying an additional 182,719 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its holdings in ProShares UltraPro QQQ by 71.7% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 78,862 shares of the exchange traded fund’s stock valued at $4,158,000 after buying an additional 32,931 shares in the last quarter.

ProShares UltraPro QQQ Price Performance

NASDAQ:TQQQ opened at $64.00 on Friday. ProShares UltraPro QQQ has a 1 year low of $37.32 and a 1 year high of $88.09. The stock’s 50 day simple moving average is $76.42 and its two-hundred day simple moving average is $61.39. The company has a market cap of $31.09 billion, a price-to-earnings ratio of 38.25 and a beta of 3.69.

ProShares UltraPro QQQ Company Profile

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.