MFG Wealth Management Inc. Purchases Shares of 39,346 ProShares UltraPro QQQ $TQQQ

Key Points

• MFG Wealth Management Inc. has acquired 39,346 shares of ProShares UltraPro QQQ (TQQQ) valued at approximately $3.27 million, making it the firm's 9th largest position.
• The ProShares UltraPro QQQ recently increased its quarterly dividend to $0.2183 per share, up from the previous $0.20, reflecting a 0.9% yield.
• As of the latest update, TQQQ's market capitalization stands at $30.58 billion, with a current price of $99.23 and a 52-week high of $99.27.

MFG Wealth Management Inc. purchased a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,346 shares of the exchange traded fund's stock, valued at approximately $3,266,000. ProShares UltraPro QQQ comprises about 2.8% of MFG Wealth Management Inc.'s holdings, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MRP Capital Investments LLC bought a new stake in shares of ProShares UltraPro QQQ in the first quarter worth $29,000. Columbia River Financial Group LLC bought a new stake in ProShares UltraPro QQQ during the first quarter valued at $47,000. Wolff Wiese Magana LLC bought a new stake in ProShares UltraPro QQQ during the first quarter valued at $94,000. Beacon Capital Management LLC increased its stake in ProShares UltraPro QQQ by 32.8% during the first quarter. Beacon Capital Management LLC now owns 1,823 shares of the exchange traded fund's stock valued at $104,000 after purchasing an additional 450 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in ProShares UltraPro QQQ during the first quarter valued at $118,000.

ProShares UltraPro QQQ Stock Up 2.0%

TQQQ stock traded up $2.00 during trading on Friday, hitting $102.98. 42,013,788 shares of the company's stock traded hands, compared to its average volume of 79,387,609. ProShares UltraPro QQQ has a 52 week low of $35.00 and a 52 week high of $103.29. The stock has a fifty day moving average price of $90.88 and a two-hundred day moving average price of $73.68. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were given a dividend of $0.2183 per share. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. This represents a $0.87 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, June 25th.

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.