Empowered Funds LLC Sells 39,532 Shares of ProShares UltraPro QQQ $TQQQ

Key Points

• Empowered Funds LLC cut its ProShares UltraPro QQQ (TQQQ) position by 67.6% in the first quarter, selling 39,532 shares and retaining 18,969 shares valued at approximately $791,000.
• Several other institutional investors increased their TQQQ holdings, including IFP Advisors, BOKF NA, and Rothschild Investment, while WFA of San Diego initiated a new position.
• TQQQ opened at $74.47, with a market capitalization of $37.87 billion and a beta of 3.71. The leveraged ETF seeks to deliver 300% of the Nasdaq-100’s daily performance, making it highly sensitive to market movements.

Empowered Funds LLC lessened its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 67.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,969 shares of the exchange traded fund's stock after selling 39,532 shares during the quarter. Empowered Funds LLC's holdings in ProShares UltraPro QQQ were worth $791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Daviman Financial LLC raised its stake in shares of ProShares UltraPro QQQ by 1.3% in the first quarter. Daviman Financial LLC now owns 13,592 shares of the exchange traded fund's stock valued at $567,000 after purchasing an additional 179 shares in the last quarter. IFP Advisors Inc boosted its stake in ProShares UltraPro QQQ by 25.7% during the fourth quarter. IFP Advisors Inc now owns 1,388 shares of the exchange traded fund's stock worth $73,000 after buying an additional 284 shares in the last quarter. BOKF NA increased its holdings in ProShares UltraPro QQQ by 100.0% in the 4th quarter. BOKF NA now owns 600 shares of the exchange traded fund's stock valued at $32,000 after buying an additional 300 shares during the period. WFA of San Diego LLC bought a new stake in ProShares UltraPro QQQ in the 2nd quarter valued at $25,000. Finally, Rothschild Investment LLC increased its holdings in ProShares UltraPro QQQ by 100.0% in the 4th quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund's stock valued at $37,000 after buying an additional 350 shares during the period.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ stock opened at $74.47 on Monday. The firm has a fifty day moving average of $74.11 and a 200-day moving average of $62.32. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 38.25 and a beta of 3.71. ProShares UltraPro QQQ has a 52-week low of $37.32 and a 52-week high of $88.09.

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.

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