World Equity Group Inc. Sells 20,000 Shares of ProShares UltraPro QQQ $TQQQ

Key Points

• World Equity Group Inc. cut its stake in ProShares UltraPro QQQ by 73.3% in the first quarter, selling 20,000 shares and leaving it with 7,302 shares worth about $304,000.
• Several other hedge funds also reported large changes in their TQQQ holdings, with some, including Howard Capital Management and Oriental Harbor Investment Master Fund, significantly increasing their positions.
• ProShares UltraPro QQQ opened at $67.53 and remains a highly volatile leveraged ETF, designed to deliver 300% of the daily performance of the Nasdaq-100 Index.

World Equity Group Inc. lowered its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,302 shares of the exchange traded fund's stock after selling 20,000 shares during the period. World Equity Group Inc.'s holdings in ProShares UltraPro QQQ were worth $304,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. increased its position in ProShares UltraPro QQQ by 83.6% in the fourth quarter. Howard Capital Management Inc. now owns 8,465,262 shares of the exchange traded fund's stock worth $446,289,000 after buying an additional 3,855,510 shares during the last quarter. Oriental Harbor Investment Master Fund raised its stake in shares of ProShares UltraPro QQQ by 100.0% in the fourth quarter. Oriental Harbor Investment Master Fund now owns 2,401,640 shares of the exchange traded fund's stock valued at $126,614,000 after buying an additional 1,200,820 shares during the period. PPSC Investment Service Corp lifted its position in shares of ProShares UltraPro QQQ by 2.5% during the 1st quarter. PPSC Investment Service Corp now owns 1,279,774 shares of the exchange traded fund's stock valued at $53,341,000 after buying an additional 30,989 shares during the last quarter. McElhenny Sheffield Capital Management LLC grew its stake in shares of ProShares UltraPro QQQ by 77.7% during the 4th quarter. McElhenny Sheffield Capital Management LLC now owns 1,213,489 shares of the exchange traded fund's stock worth $63,975,000 after acquiring an additional 530,708 shares during the period. Finally, Cantor Fitzgerald L. P. grew its stake in shares of ProShares UltraPro QQQ by 823.5% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund's stock worth $80,550,000 after acquiring an additional 694,661 shares during the period.

ProShares UltraPro QQQ Price Performance

TQQQ opened at $67.53 on Monday. The firm has a 50-day moving average price of $77.29 and a 200-day moving average price of $60.92. ProShares UltraPro QQQ has a twelve month low of $37.32 and a twelve month high of $88.09. The company has a market capitalization of $32.59 billion, a price-to-earnings ratio of 38.25 and a beta of 3.69.

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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