Connective Capital Management LLC Grows Stock Position in ProShares Ultra QQQ $QLD

Connective Capital Management LLC raised its position in shares of ProShares Ultra QQQ (NYSEARCA:QLD) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,918 shares of the company’s stock after purchasing an additional 52,959 shares during the quarter. ProShares Ultra QQQ accounts for about 4.4% of Connective Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Connective Capital Management LLC’s holdings in ProShares Ultra QQQ were worth $7,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QLD. Farmers & Merchants Investments Inc. increased its stake in shares of ProShares Ultra QQQ by 100.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 800 shares of the company’s stock worth $56,000 after purchasing an additional 400 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of ProShares Ultra QQQ by 100.2% during the 4th quarter. Parallel Advisors LLC now owns 923 shares of the company’s stock valued at $65,000 after buying an additional 462 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of ProShares Ultra QQQ by 300.8% during the 4th quarter. IFP Advisors Inc now owns 998 shares of the company’s stock valued at $70,000 after buying an additional 749 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in ProShares Ultra QQQ in the 3rd quarter worth $71,000. Finally, Financial Consulate Inc. boosted its holdings in ProShares Ultra QQQ by 88.5% in the 4th quarter. Financial Consulate Inc. now owns 1,067 shares of the company’s stock worth $75,000 after buying an additional 501 shares during the period.

ProShares Ultra QQQ Stock Performance

Shares of QLD stock opened at $97.91 on Friday. ProShares Ultra QQQ has a 52-week low of $53.16 and a 52-week high of $101.19. The firm has a market capitalization of $14.51 billion, a PE ratio of 31.03 and a beta of 2.46. The stock has a fifty day simple moving average of $87.16 and a two-hundred day simple moving average of $75.32.

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.