IMC Chicago LLC Grows Position in ProShares UltraPro QQQ $TQQQ

Key Points

• IMC Chicago LLC increased its stake in ProShares UltraPro QQQ by 290.6% in the first quarter, adding 215,397 shares to reach 289,517 shares worth about $12.07 million.
• Other institutional investors also boosted holdings in TQQQ, including large position increases from Howard Capital Management, Oriental Harbor Investment Master Fund, and Cantor Fitzgerald.
• ProShares UltraPro QQQ traded at $74.44, with a $35.79 billion market cap and a high-beta profile of 3.69; the ETF aims to deliver 300% of the daily performance of the NASDAQ-100 Index.

IMC Chicago LLC lifted its holdings in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 290.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,517 shares of the exchange traded fund's stock after purchasing an additional 215,397 shares during the quarter. IMC Chicago LLC owned 0.06% of ProShares UltraPro QQQ worth $12,067,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Howard Capital Management Inc. increased its position in shares of ProShares UltraPro QQQ by 83.6% during the 4th quarter. Howard Capital Management Inc. now owns 8,465,262 shares of the exchange traded fund's stock valued at $446,289,000 after purchasing an additional 3,855,510 shares during the last quarter. Oriental Harbor Investment Master Fund lifted its position in ProShares UltraPro QQQ by 100.0% in the 4th quarter. Oriental Harbor Investment Master Fund now owns 2,401,640 shares of the exchange traded fund's stock worth $126,614,000 after buying an additional 1,200,820 shares during the last quarter. Cantor Fitzgerald L. P. boosted its stake in ProShares UltraPro QQQ by 823.5% in the third quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund's stock worth $80,550,000 after buying an additional 694,661 shares in the last quarter. PPSC Investment Service Corp boosted its stake in ProShares UltraPro QQQ by 116.1% in the fourth quarter. PPSC Investment Service Corp now owns 1,248,785 shares of the exchange traded fund's stock worth $65,836,000 after buying an additional 671,023 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC boosted its stake in ProShares UltraPro QQQ by 77.7% in the fourth quarter. McElhenny Sheffield Capital Management LLC now owns 1,213,489 shares of the exchange traded fund's stock worth $63,975,000 after buying an additional 530,708 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

Shares of ProShares UltraPro QQQ stock opened at $74.44 on Thursday. The stock has a market capitalization of $35.79 billion, a price-to-earnings ratio of 38.25 and a beta of 3.69. The company has a fifty day moving average of $77.48 and a 200-day moving average of $60.72. ProShares UltraPro QQQ has a 52-week low of $37.32 and a 52-week high of $88.09.

ProShares UltraPro QQQ Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.