Aveo Capital Partners LLC Takes $1.47 Million Position in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• Aveo Capital Partners LLC acquired a new stake in ProShares UltraPro QQQ worth approximately $1.47 million by purchasing 25,648 shares in the first quarter.
• The ProShares UltraPro QQQ recently declared an increased quarterly dividend of $0.2183 per share, up from the previous $0.20, reflecting a yield of 0.9%.
• The stock opened at $92.16, marking a 52-week high of $93.79, with a market cap of $28.40 billion and a P/E ratio of 38.25.

Aveo Capital Partners LLC purchased a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,648 shares of the exchange traded fund's stock, valued at approximately $1,472,000.

Several other hedge funds also recently made changes to their positions in the stock. MRP Capital Investments LLC purchased a new position in ProShares UltraPro QQQ during the first quarter worth about $29,000. Cary Street Partners Financial LLC purchased a new position in ProShares UltraPro QQQ during the fourth quarter worth about $47,000. Columbia River Financial Group LLC purchased a new position in ProShares UltraPro QQQ during the first quarter worth about $47,000. Wolff Wiese Magana LLC purchased a new position in ProShares UltraPro QQQ during the first quarter worth about $94,000. Finally, Beacon Capital Management LLC grew its position 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 worth $104,000 after buying an additional 450 shares in the last quarter.

ProShares UltraPro QQQ Stock Up 2.7%

ProShares UltraPro QQQ stock opened at $92.16 on Friday. ProShares UltraPro QQQ has a 52 week low of $35.00 and a 52 week high of $93.79. The business has a 50-day simple moving average of $81.76 and a 200 day simple moving average of $71.49. The stock has a market cap of $28.40 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. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.2183 per share. This represents a $0.87 annualized dividend and a yield of 0.9%. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, June 25th.

ProShares UltraPro QQQ Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.