ProShares UltraPro QQQ $TQQQ Holdings Lessened by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp cut its TQQQ position by 96% in the third quarter, selling 1.45 million shares and retaining 60,599 shares valued at approximately $4.73 million.
• Other institutional investors generally increased their exposure, including Allworth Financial, which boosted its holdings by 3,891% to 89,677 shares.
• TQQQ shares recently traded at $80.01, within a 52-week range of $37.32 to $88.09. The ETF seeks to deliver three times the daily performance of the Nasdaq-100 Index, making it highly volatile, as reflected by its beta of 3.71.

Toth Financial Advisory Corp reduced its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 96.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,599 shares of the exchange traded fund's stock after selling 1,454,344 shares during the period. Toth Financial Advisory Corp's holdings in ProShares UltraPro QQQ were worth $4,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in shares of ProShares UltraPro QQQ during the second quarter valued at about $65,000. Smith Chas P & Associates PA Cpas grew its stake in ProShares UltraPro QQQ by 57.4% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 13,705 shares of the exchange traded fund's stock valued at $1,056,000 after purchasing an additional 5,000 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in ProShares UltraPro QQQ during the 2nd quarter valued at approximately $236,000. Allworth Financial LP increased its holdings in ProShares UltraPro QQQ by 3,891.0% during the 2nd quarter. Allworth Financial LP now owns 89,677 shares of the exchange traded fund's stock worth $7,264,000 after purchasing an additional 87,430 shares during the last quarter. Finally, Alternative Investment Advisors LLC. raised its position in shares of ProShares UltraPro QQQ by 7.3% in the 2nd quarter. Alternative Investment Advisors LLC. now owns 6,595 shares of the exchange traded fund's stock valued at $534,000 after purchasing an additional 446 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ stock traded down $3.61 during mid-day trading on Thursday, reaching $80.01. 30,747,746 shares of the company were exchanged, compared to its average volume of 77,920,984. ProShares UltraPro QQQ has a fifty-two week low of $37.32 and a fifty-two week high of $88.09. The company has a market capitalization of $38.62 billion, a P/E ratio of 38.25 and a beta of 3.71. The business's 50 day simple moving average is $73.67 and its 200 day simple moving average is $69.56.

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.

Want to see what other hedge funds are holding TQQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report).

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.