Connective Capital Management LLC Takes Position in ProShares Ultra QQQ (NYSEARCA:QLD)

Connective Capital Management LLC acquired a new stake in ProShares Ultra QQQ (NYSEARCA:QLD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 52,959 shares of the company’s stock, valued at approximately $4,633,000. ProShares Ultra QQQ makes up approximately 7.0% of Connective Capital Management LLC’s holdings, making the stock its 6th biggest position. Connective Capital Management LLC owned 0.08% of ProShares Ultra QQQ as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Flow Traders U.S. LLC increased its position in shares of ProShares Ultra QQQ by 6,662.8% during the 1st quarter. Flow Traders U.S. LLC now owns 179,416 shares of the company’s stock worth $15,695,000 after purchasing an additional 176,763 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth about $223,000. Hilltop Partners LLC acquired a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth about $204,000. Headlands Technologies LLC acquired a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth about $65,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth about $349,000.

ProShares Ultra QQQ Trading Down 2.8 %

Shares of ProShares Ultra QQQ stock traded down $2.56 during mid-day trading on Tuesday, reaching $90.16. 3,698,499 shares of the stock were exchanged, compared to its average volume of 3,208,485. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55. The firm has a 50-day simple moving average of $98.16 and a 200 day simple moving average of $88.96. ProShares Ultra QQQ has a fifty-two week low of $53.72 and a fifty-two week high of $110.04.

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.