Ridgepath Capital Management LLC Purchases Shares of 149,485 ProShares UltraShort QQQ (NYSEARCA:QID)

Ridgepath Capital Management LLC acquired a new position in ProShares UltraShort QQQ (NYSEARCA:QID) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 149,485 shares of the exchange traded fund’s stock, valued at approximately $4,887,000. ProShares UltraShort QQQ accounts for about 2.3% of Ridgepath Capital Management LLC’s portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Flow Traders U.S. LLC acquired a new stake in shares of ProShares UltraShort QQQ in the third quarter worth $894,000. United Capital Management of KS Inc. purchased a new position in ProShares UltraShort QQQ during the 3rd quarter valued at about $362,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of ProShares UltraShort QQQ by 259,700.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,598 shares of the exchange traded fund’s stock valued at $94,000 after purchasing an additional 2,597 shares during the period.

ProShares UltraShort QQQ Price Performance

NYSEARCA QID opened at $31.20 on Friday. The company has a 50 day simple moving average of $31.95 and a 200-day simple moving average of $35.82. ProShares UltraShort QQQ has a 52-week low of $29.98 and a 52-week high of $51.87.

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.