Parallel Advisors LLC Trims Stake in ProShares UltraPro QQQ $TQQQ

Parallel Advisors LLC cut its position in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 45.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,413 shares of the exchange traded fund’s stock after selling 11,320 shares during the quarter. Parallel Advisors LLC’s holdings in ProShares UltraPro QQQ were worth $559,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Independent Financial Group LLC acquired a new position in shares of ProShares UltraPro QQQ in the 1st quarter valued at $12,430,000. Q3 Asset Management boosted its stake 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 worth $12,358,000 after purchasing an additional 182,719 shares during the period. Cassaday & Co Wealth Management LLC boosted its stake 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 worth $4,158,000 after purchasing an additional 32,931 shares during the period. Encompass More Asset Management grew its position in ProShares UltraPro QQQ by 77.6% during the 4th quarter. Encompass More Asset Management now owns 65,009 shares of the exchange traded fund’s stock worth $3,427,000 after purchasing an additional 28,415 shares during the last quarter. Finally, Discipline Wealth Solutions LLC grew its position in ProShares UltraPro QQQ by 161.0% during the 4th quarter. Discipline Wealth Solutions LLC now owns 52,062 shares of the exchange traded fund’s stock worth $2,745,000 after purchasing an additional 32,113 shares during the last quarter.

ProShares UltraPro QQQ Stock Performance

NASDAQ TQQQ opened at $73.80 on Tuesday. The firm’s fifty day moving average is $73.86 and its two-hundred day moving average is $62.48. ProShares UltraPro QQQ has a one year low of $37.32 and a one year high of $88.09. The firm has a market cap of $37.53 billion, a PE ratio of 38.25 and a beta of 3.71.

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.