Ridgepath Capital Management LLC acquired a new position in shares of ProShares UltraShort QQQ (NYSEARCA:QID – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 149,485 shares of the exchange traded fund’s stock, valued at approximately $4,887,000. ProShares UltraShort QQQ accounts for 2.3% of Ridgepath Capital Management LLC’s portfolio, making the stock its 10th biggest position. Ridgepath Capital Management LLC owned approximately 2.74% of ProShares UltraShort QQQ at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of ProShares UltraShort QQQ by 259,700.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,598 shares of the exchange traded fund’s stock worth $94,000 after purchasing an additional 2,597 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in shares of ProShares UltraShort QQQ during the third quarter valued at $362,000. Finally, Flow Traders U.S. LLC bought a new position in shares of ProShares UltraShort QQQ during the third quarter worth about $894,000.
ProShares UltraShort QQQ Trading Down 0.9 %
Shares of NYSEARCA:QID opened at $31.20 on Friday. ProShares UltraShort QQQ has a fifty-two week low of $29.98 and a fifty-two week high of $51.87. The company’s 50-day moving average price is $31.95 and its 200 day moving average price is $35.82.
About ProShares UltraShort QQQ
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.
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