Prosperity Wealth Management Inc. Sells 5,028 Shares of ProShares Ultra QQQ (NYSEARCA:QLD)

Prosperity Wealth Management Inc. lowered its position in shares of ProShares Ultra QQQ (NYSEARCA:QLD) by 38.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Segment Wealth Management LLC purchased a new position in ProShares Ultra QQQ during the 4th quarter valued at about $205,000. 180 Wealth Advisors LLC acquired a new position in shares of ProShares Ultra QQQ in the 4th quarter valued at $1,716,000. Sowell Financial Services LLC increased its position in shares of ProShares Ultra QQQ by 37.7% in the 4th quarter. Sowell Financial Services LLC now owns 57,294 shares of the company’s stock valued at $4,354,000 after acquiring an additional 15,677 shares during the period. Zullo Investment Group Inc. purchased a new position in ProShares Ultra QQQ in the 4th quarter worth $201,000. Finally, Altfest L J & Co. Inc. acquired a new stake in ProShares Ultra QQQ during the 4th quarter worth about $245,000.

ProShares Ultra QQQ Price Performance

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

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.