Avidian Wealth Enterprises LLC Sells 198,144 Shares of ProShares UltraPro QQQ $TQQQ

Avidian Wealth Enterprises LLC decreased its position in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 57.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 146,600 shares of the exchange traded fund’s stock after selling 198,144 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in ProShares UltraPro QQQ were worth $11,439,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Anchor Investment Management LLC bought a new position in ProShares UltraPro QQQ in the second quarter valued at $65,000. Smith Chas P & Associates PA Cpas boosted its stake in shares of 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 worth $1,056,000 after buying an additional 5,000 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of ProShares UltraPro QQQ in the 2nd quarter valued at about $236,000. Allworth Financial LP increased its position in shares of ProShares UltraPro QQQ by 3,891.0% in the second quarter. Allworth Financial LP now owns 89,677 shares of the exchange traded fund’s stock valued at $7,264,000 after acquiring an additional 87,430 shares during the last quarter. Finally, Alternative Investment Advisors LLC. increased its position in shares of ProShares UltraPro QQQ by 7.3% in the second quarter. Alternative Investment Advisors LLC. now owns 6,595 shares of the exchange traded fund’s stock valued at $534,000 after acquiring an additional 446 shares during the last quarter.

ProShares UltraPro QQQ Trading Down 4.3%

Shares of NASDAQ:TQQQ traded down $3.64 during trading on Thursday, hitting $79.98. 38,034,096 shares of the company were exchanged, compared to its average volume of 77,929,992. The stock has a market cap of $38.60 billion, a price-to-earnings ratio of 38.25 and a beta of 3.71. ProShares UltraPro QQQ has a fifty-two week low of $37.32 and a fifty-two week high of $88.09. The firm has a fifty day moving average price of $73.67 and a two-hundred day moving average price of $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.