Sowell Financial Services LLC Purchases 875 Shares of ProShares Ultra QQQ (NYSEARCA:QLD)

Sowell Financial Services LLC grew its position in shares of ProShares Ultra QQQ (NYSEARCA:QLD) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 25,386 shares of the company’s stock after buying an additional 875 shares during the quarter. Sowell Financial Services LLC’s holdings in ProShares Ultra QQQ were worth $2,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aptus Capital Advisors LLC bought a new stake in shares of ProShares Ultra QQQ in the fourth quarter worth about $33,000. Compass Planning Associates Inc purchased a new stake in ProShares Ultra QQQ in the 4th quarter worth approximately $40,000. Cape Investment Advisory Inc. bought a new stake in shares of ProShares Ultra QQQ in the 4th quarter worth approximately $54,000. IFP Advisors Inc grew its position in shares of ProShares Ultra QQQ by 226.1% in the 4th quarter. IFP Advisors Inc now owns 499 shares of the company’s stock worth $54,000 after buying an additional 346 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of ProShares Ultra QQQ during the fourth quarter valued at approximately $82,000.

ProShares Ultra QQQ Stock Up 2.8%

Shares of QLD stock opened at $110.57 on Tuesday. The stock has a fifty day moving average of $96.02 and a 200 day moving average of $102.44. ProShares Ultra QQQ has a 52 week low of $64.72 and a 52 week high of $120.68. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 31.03 and a beta of 2.36.

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.