Genesis Financial Group LLC Invests $5.07 Million in ProShares UltraShort QQQ $QID

Genesis Financial Group LLC bought a new position in ProShares UltraShort QQQ (NYSEARCA:QID) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 223,590 shares of the exchange traded fund’s stock, valued at approximately $5,067,000. ProShares UltraShort QQQ accounts for approximately 3.2% of Genesis Financial Group LLC’s holdings, making the stock its 11th biggest position. Genesis Financial Group LLC owned about 1.36% of ProShares UltraShort QQQ as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in ProShares UltraShort QQQ by 3.5% during the first quarter. Hillsdale Investment Management Inc. now owns 35,290 shares of the exchange traded fund’s stock valued at $800,000 after acquiring an additional 1,190 shares during the period. Captrust Financial Advisors raised its holdings in shares of ProShares UltraShort QQQ by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock worth $232,000 after purchasing an additional 1,228 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of ProShares UltraShort QQQ in the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC lifted its stake in shares of ProShares UltraShort QQQ by 30.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 20,717 shares of the exchange traded fund’s stock valued at $525,000 after purchasing an additional 4,803 shares in the last quarter. Finally, Two Sigma Securities LLC grew its holdings in shares of ProShares UltraShort QQQ by 87.0% during the 2nd quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock worth $440,000 after purchasing an additional 8,082 shares during the period.

ProShares UltraShort QQQ Price Performance

QID opened at $16.73 on Thursday. The firm has a 50 day moving average price of $14.47 and a 200 day moving average price of $17.85. ProShares UltraShort QQQ has a 1 year low of $13.39 and a 1 year high of $25.54.

ProShares UltraShort QQQ Profile

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.