Connective Capital Management LLC Invests $4.63 Million in ProShares Ultra QQQ (NYSEARCA:QLD)

Connective Capital Management LLC bought a new position in shares of ProShares Ultra QQQ (NYSEARCA:QLD) during the first quarter, according to its most recent filing with the SEC. The fund bought 52,959 shares of the company’s stock, valued at approximately $4,633,000. ProShares Ultra QQQ accounts for 7.0% of Connective Capital Management LLC’s investment portfolio, making the stock its 6th largest holding.

A number of other hedge funds also recently made changes to their positions in QLD. Headlands Technologies LLC bought a new stake in ProShares Ultra QQQ in the 1st quarter valued at about $65,000. Banque Cantonale Vaudoise bought a new stake in ProShares Ultra QQQ in the 1st quarter valued at about $105,000. Citigroup Inc. raised its stake in ProShares Ultra QQQ by 20.0% in the 3rd quarter. Citigroup Inc. now owns 2,280 shares of the company’s stock valued at $135,000 after acquiring an additional 380 shares during the period. Hilltop Partners LLC bought a new stake in ProShares Ultra QQQ in the 1st quarter valued at about $204,000. Finally, Segment Wealth Management LLC bought a new stake in ProShares Ultra QQQ in the 4th quarter valued at about $205,000.

ProShares Ultra QQQ Price Performance

QLD stock traded down $2.56 during mid-day trading on Tuesday, reaching $90.16. 3,698,499 shares of the company traded hands, compared to its average volume of 3,208,485. The company has a market capitalization of $6.17 billion, a P/E ratio of 25.00 and a beta of 2.55. ProShares Ultra QQQ has a 52-week low of $53.72 and a 52-week high of $110.04. The company has a fifty day moving average price of $98.16 and a 200-day moving average price of $88.96.

ProShares Ultra QQQ Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.