Meridian Wealth Management LLC increased its holdings in shares of ProShares Ultra QQQ (NYSEARCA:QLD – Free Report) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,538 shares of the company’s stock after purchasing an additional 1,080 shares during the period. Meridian Wealth Management LLC’s holdings in ProShares Ultra QQQ were worth $1,465,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of QLD. Dale Q Rice Investment Management Ltd bought a new position in shares of ProShares Ultra QQQ during the fourth quarter valued at approximately $24,535,000. Aveo Capital Partners LLC boosted its stake in shares of ProShares Ultra QQQ by 5,229.3% during the fourth quarter. Aveo Capital Partners LLC now owns 143,197 shares of the company’s stock valued at $15,500,000 after purchasing an additional 140,510 shares in the last quarter. Ridgepath Capital Management LLC bought a new position in shares of ProShares Ultra QQQ during the fourth quarter valued at approximately $10,787,000. Axxcess Wealth Management LLC bought a new position in shares of ProShares Ultra QQQ during the third quarter valued at approximately $10,032,000. Finally, GenTrust LLC bought a new position in shares of ProShares Ultra QQQ during the third quarter valued at approximately $2,569,000.
ProShares Ultra QQQ Stock Performance
NYSEARCA QLD opened at $100.79 on Tuesday. The firm’s 50 day moving average price is $111.92 and its 200-day moving average price is $105.99. ProShares Ultra QQQ has a 52-week low of $75.28 and a 52-week high of $120.68. The company has a market cap of $7.13 billion, a PE ratio of 33.52 and a beta of 2.23.
ProShares Ultra QQQ 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.
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