Independent Financial Group LLC Buys New Position in ProShares UltraPro QQQ $TQQQ

Independent Financial Group LLC purchased a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 298,228 shares of the exchange traded fund’s stock, valued at approximately $12,430,000. Independent Financial Group LLC owned approximately 0.06% of ProShares UltraPro QQQ as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Sherman Wealth Management LLC purchased a new position in shares of ProShares UltraPro QQQ in the fourth quarter worth $2,249,000. Paragon Advisors LLC increased its position in shares of ProShares UltraPro QQQ by 104.6% in the 4th quarter. Paragon Advisors LLC now owns 146,543 shares of the exchange traded fund’s stock valued at $7,726,000 after acquiring an additional 74,933 shares during the period. MFG Wealth Management Inc. raised its stake in ProShares UltraPro QQQ by 98.3% in the 4th quarter. MFG Wealth Management Inc. now owns 67,453 shares of the exchange traded fund’s stock worth $3,556,000 after acquiring an additional 33,442 shares during the last quarter. Spire Wealth Management grew its stake in ProShares UltraPro QQQ by 4,456.0% during the 4th quarter. Spire Wealth Management now owns 28,657 shares of the exchange traded fund’s stock valued at $1,511,000 after purchasing an additional 28,028 shares during the last quarter. Finally, Diversified Trust Co. increased its holdings in shares of ProShares UltraPro QQQ by 100.0% in the fourth quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund’s stock valued at $5,799,000 after purchasing an additional 55,000 shares during the period.

ProShares UltraPro QQQ Stock Down 5.0%

ProShares UltraPro QQQ stock opened at $70.74 on Friday. ProShares UltraPro QQQ has a 52 week low of $37.32 and a 52 week high of $88.09. The company has a market capitalization of $34.23 billion, a price-to-earnings ratio of 38.25 and a beta of 3.69. The stock has a 50-day moving average price of $77.47 and a 200 day moving average price of $60.83.

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.