Pinnacle Associates Ltd. Buys 21,951 Shares of ProShares UltraPro QQQ $TQQQ

Pinnacle Associates Ltd. raised its stake in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 100.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,833 shares of the exchange traded fund’s stock after purchasing an additional 21,951 shares during the period. Pinnacle Associates Ltd.’s holdings in ProShares UltraPro QQQ were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TQQQ. Allworth Financial LP boosted its position in shares of ProShares UltraPro QQQ by 99.4% during the 4th quarter. Allworth Financial LP now owns 2,333 shares of the exchange traded fund’s stock valued at $123,000 after acquiring an additional 1,163 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of ProShares UltraPro QQQ by 91.1% during the 4th quarter. Atlantic Union Bankshares Corp now owns 1,097 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 523 shares in the last quarter. World Investment Advisors boosted its position in shares of ProShares UltraPro QQQ by 78.0% during the 4th quarter. World Investment Advisors now owns 54,857 shares of the exchange traded fund’s stock valued at $2,861,000 after acquiring an additional 24,031 shares in the last quarter. Rollins Financial Advisors LLC boosted its position in shares of ProShares UltraPro QQQ by 85.7% during the 4th quarter. Rollins Financial Advisors LLC now owns 139,962 shares of the exchange traded fund’s stock valued at $7,379,000 after acquiring an additional 64,607 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its position in shares of ProShares UltraPro QQQ by 38.7% during the 4th quarter. Meridian Wealth Management LLC now owns 12,189 shares of the exchange traded fund’s stock valued at $643,000 after acquiring an additional 3,400 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

Shares of ProShares UltraPro QQQ stock opened at $75.34 on Friday. The firm’s 50-day simple moving average is $54.32 and its 200-day simple moving average is $53.60. ProShares UltraPro QQQ has a twelve month low of $32.43 and a twelve month high of $79.68. The firm has a market cap of $37.15 billion, a P/E ratio of 38.25 and a beta of 3.66.

About ProShares UltraPro QQQ

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.