Ridgepath Capital Management LLC Increases Stake in ProShares UltraPro QQQ $TQQQ

Key Points

• Ridgepath Capital Management boosted its position in ProShares UltraPro QQQ by 285.4% in the first quarter, buying an additional 130,136 shares to bring its total to 175,735 shares worth about $7.33 million.
• The ETF, which tracks 300% of the daily performance of the Nasdaq-100, has also seen activity from other institutional investors and hedge funds making new purchases or increasing stakes.
• ProShares UltraPro QQQ stock was recently trading at $67.65, giving it a market cap of $32.64 billion and reflecting its highly volatile profile with a beta of 3.69.

Ridgepath Capital Management LLC increased its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 285.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,735 shares of the exchange traded fund's stock after purchasing an additional 130,136 shares during the quarter. ProShares UltraPro QQQ makes up about 3.6% of Ridgepath Capital Management LLC's portfolio, making the stock its 7th largest holding. Ridgepath Capital Management LLC's holdings in ProShares UltraPro QQQ were worth $7,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in TQQQ. WFA of San Diego LLC acquired a new stake in ProShares UltraPro QQQ in the second quarter valued at approximately $25,000. CoreCap Advisors LLC lifted its stake in shares of ProShares UltraPro QQQ by 69.8% in the 4th quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund's stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. BOKF NA bought a new position in shares of ProShares UltraPro QQQ in the 3rd quarter valued at $31,000. Rothschild Investment LLC lifted its stake in shares of 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 acquiring an additional 350 shares during the last quarter. Finally, Dogwood Wealth Management LLC acquired a new stake in shares of ProShares UltraPro QQQ during the 4th quarter valued at $44,000.

ProShares UltraPro QQQ Stock Up 0.2%

Shares of TQQQ stock opened at $67.65 on Tuesday. The firm has a market capitalization of $32.64 billion, a P/E ratio of 38.25 and a beta of 3.69. ProShares UltraPro QQQ has a twelve month low of $37.32 and a twelve month high of $88.09. The stock's fifty day simple moving average is $77.11 and its 200 day simple moving average is $61.02.

ProShares UltraPro QQQ Company 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.

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