Avidian Wealth Enterprises LLC Grows Position in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Avidian Wealth Enterprises LLC increased its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 103.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 366,450 shares of the exchange traded fund's stock after purchasing an additional 186,716 shares during the quarter. ProShares UltraPro QQQ makes up about 0.9% of Avidian Wealth Enterprises LLC's investment portfolio, making the stock its 24th largest holding. Avidian Wealth Enterprises LLC owned about 0.09% of ProShares UltraPro QQQ worth $20,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Richmond Brothers Inc. lifted its stake in shares of ProShares UltraPro QQQ by 1.9% in the 4th quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund's stock valued at $698,000 after purchasing an additional 163 shares during the period. Parallel Advisors LLC lifted its stake in shares of ProShares UltraPro QQQ by 5.1% in the 1st quarter. Parallel Advisors LLC now owns 5,654 shares of the exchange traded fund's stock valued at $324,000 after purchasing an additional 274 shares during the period. Golden State Equity Partners lifted its stake in shares of ProShares UltraPro QQQ by 8.3% in the 1st quarter. Golden State Equity Partners now owns 4,355 shares of the exchange traded fund's stock valued at $250,000 after purchasing an additional 332 shares during the period. Beacon Capital Management LLC lifted its stake in shares of ProShares UltraPro QQQ by 32.8% in the 1st 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 period. Finally, Rathbones Group PLC lifted its stake in shares of ProShares UltraPro QQQ by 2.9% in the 4th quarter. Rathbones Group PLC now owns 16,723 shares of the exchange traded fund's stock valued at $1,323,000 after purchasing an additional 475 shares during the period.

ProShares UltraPro QQQ Trading Up 1.0%

Shares of NASDAQ:TQQQ opened at $81.42 on Friday. The stock has a fifty day simple moving average of $67.05 and a two-hundred day simple moving average of $70.88. The stock has a market capitalization of $27.09 billion, a price-to-earnings ratio of 38.25 and a beta of 3.54. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $93.79.

ProShares UltraPro QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.2183 per share. This is a boost from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, June 25th. This represents a $0.87 dividend on an annualized basis and a yield of 1.07%.

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.

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