Jump Financial LLC Invests $53.46 Million in ProShares UltraPro QQQ $TQQQ

Key Points

• Jump Financial LLC acquired 932,947 shares of ProShares UltraPro QQQ (NASDAQ:TQQQ), valued at approximately $53.5 million, making it the 6th largest holding in their investment portfolio.
• The stock experienced a notable 4.5% increase in value, with its current price opening at $90.38 and a 52-week high of $96.32.
• ProShares UltraPro QQQ announced an increase in its quarterly dividend to $0.2183 per share, reflecting an annual yield of 1.0%, up from the previous $0.20.

Jump Financial LLC bought a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 932,947 shares of the exchange traded fund's stock, valued at approximately $53,458,000. ProShares UltraPro QQQ accounts for 0.7% of Jump Financial LLC's holdings, making the stock its 6th biggest position. Jump Financial LLC owned 0.24% of ProShares UltraPro QQQ as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ProShares UltraPro QQQ by 3.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,312 shares of the exchange traded fund's stock valued at $476,000 after buying an additional 310 shares during the period. Flow Traders U.S. LLC purchased a new stake in ProShares UltraPro QQQ during the 1st quarter worth approximately $11,363,000. Watts Gwilliam & Co. LLC increased its holdings in ProShares UltraPro QQQ by 97.8% during the 1st quarter. Watts Gwilliam & Co. LLC now owns 7,942 shares of the exchange traded fund's stock worth $455,000 after purchasing an additional 3,927 shares during the last quarter. Mill Creek Capital Advisors LLC increased its holdings in ProShares UltraPro QQQ by 102.1% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 12,869 shares of the exchange traded fund's stock worth $737,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in ProShares UltraPro QQQ by 2.9% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,691 shares of the exchange traded fund's stock worth $326,000 after purchasing an additional 158 shares during the last quarter.

ProShares UltraPro QQQ Trading Up 0.5%

TQQQ stock traded up $0.41 during midday trading on Wednesday, hitting $91.04. 44,391,964 shares of the company's stock were exchanged, compared to its average volume of 81,696,344. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $96.32. The firm has a 50 day moving average price of $85.91 and a 200-day moving average price of $72.14. The stock has a market capitalization of $28.06 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.2183 per share. The ex-dividend date was Wednesday, June 25th. This represents a $0.87 annualized dividend and a yield of 1.0%. This is a boost from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

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.