9,588 Shares in ProShares UltraPro QQQ (NASDAQ:TQQQ) Purchased by Cedar Wealth Management LLC

Key Points

• Cedar Wealth Management LLC has acquired 9,588 shares of ProShares UltraPro QQQ (NASDAQ:TQQQ), valued at approximately $549,000, as reported in a recent SEC filing.
• In addition to Cedar Wealth Management, several other institutional investors have increased their stakes in TQQQ during the 1st quarter, including MRP Capital Investments and Cary Street Partners.
• ProShares UltraPro QQQ has declared a dividend increase to $0.2183 per share, up from the previous $0.20, reflecting an annualized yield of 1.1%.

Cedar Wealth Management LLC purchased a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,588 shares of the exchange traded fund's stock, valued at approximately $549,000.

A number of other institutional investors also recently bought and sold shares of TQQQ. Raymond James Financial Inc. purchased a new stake in ProShares UltraPro QQQ during the 4th quarter worth about $364,000. LPL Financial LLC lifted its stake in shares of ProShares UltraPro QQQ by 15.5% during the fourth quarter. LPL Financial LLC now owns 71,975 shares of the exchange traded fund's stock worth $5,695,000 after purchasing an additional 9,684 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of ProShares UltraPro QQQ during the 4th quarter valued at approximately $390,000. Schwallier Wealth Management LLC acquired a new stake in shares of ProShares UltraPro QQQ during the fourth quarter worth $396,000. Finally, Finward Bancorp acquired a new stake in ProShares UltraPro QQQ in the 4th quarter valued at approximately $8,775,000.

ProShares UltraPro QQQ Stock Performance

Shares of NASDAQ TQQQ traded up $1.06 during mid-day trading on Thursday, reaching $89.90. The company had a trading volume of 36,917,820 shares, compared to its average volume of 84,087,344. The company has a market capitalization of $27.71 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45. The stock has a fifty day moving average of $80.91 and a two-hundred day moving average of $71.50. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were issued 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 25th.

ProShares UltraPro QQQ Company 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.