Bedell Frazier Investment Counseling LLC acquired a new position in shares of ProShares UltraShort QQQ (NYSEARCA:QID) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 645,600 shares of the exchange traded fund’s stock, valued at approximately $8,645,000. ProShares UltraShort QQQ accounts for about 3.2% of Bedell Frazier Investment Counseling LLC’s portfolio, making the stock its 13th largest holding.

Several other hedge funds have also bought and sold shares of QID. PVG Asset Management Corp boosted its holdings in shares of ProShares UltraShort QQQ by 168.5% during the third quarter. PVG Asset Management Corp now owns 290,887 shares of the exchange traded fund’s stock worth $4,497,000 after purchasing an additional 182,531 shares during the last quarter. David R. Rahn & Associates Inc. purchased a new position in shares of ProShares UltraShort QQQ in the 3rd quarter worth $756,000. Simplex Trading LLC purchased a new position in shares of ProShares UltraShort QQQ in the 3rd quarter worth $460,000. Southport Management L.L.C. purchased a new position in shares of ProShares UltraShort QQQ in the 3rd quarter worth $309,000. Finally, Regal Investment Advisors LLC purchased a new position in shares of ProShares UltraShort QQQ in the 3rd quarter worth $273,000.

ProShares UltraShort QQQ (NYSEARCA QID) opened at $12.54 on Thursday. The firm has a market capitalization of $292.76 and a price-to-earnings ratio of -0.08. ProShares UltraShort QQQ has a 52-week low of $11.11 and a 52-week high of $21.19.

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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.

Want to see what other hedge funds are holding QID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares UltraShort QQQ (NYSEARCA:QID).

Institutional Ownership by Quarter for ProShares UltraShort QQQ (NYSEARCA:QID)

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