Belpointe Asset Management LLC Sells 6,090 Shares of ProShares UltraPro QQQ $TQQQ

Key Points

• Belpointe Asset Management LLC reduced its holdings in ProShares UltraPro QQQ by 55.6%, owning 4,870 shares after selling 6,090 shares in the first quarter.
• ProShares UltraPro QQQ's latest quarterly dividend has been increased to $0.2183 per share, representing an annual dividend yield of 0.9%.
• The stock opened at $99.23 and has a market capitalization of $30.58 billion, with a 12-month high of $99.27.

Belpointe Asset Management LLC trimmed its holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 55.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,870 shares of the exchange traded fund's stock after selling 6,090 shares during the period. Belpointe Asset Management LLC's holdings in ProShares UltraPro QQQ were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

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 ProShares UltraPro QQQ during the 1st quarter valued at $29,000. Columbia River Financial Group LLC acquired a new position in ProShares UltraPro QQQ during the first quarter valued at $47,000. Wolff Wiese Magana LLC purchased a new position in ProShares UltraPro QQQ during the first quarter valued at approximately $94,000. Beacon Capital Management LLC increased its position in 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 worth $104,000 after purchasing an additional 450 shares during the last quarter. Finally, Menard Financial Group LLC bought a new position in shares of ProShares UltraPro QQQ during the 4th quarter valued at $146,000.

ProShares UltraPro QQQ Stock Up 2.0%

ProShares UltraPro QQQ stock traded up $2.00 during trading hours on Friday, hitting $102.98. The stock had a trading volume of 42,013,788 shares, compared to its average volume of 79,387,609. The company has a 50-day moving average of $90.88 and a two-hundred day moving average of $73.68. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $103.29. The company has a market cap of $31.74 billion, a PE ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

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

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.