Chung Wu Investment Group LLC Takes $448,000 Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Chung Wu Investment Group LLC acquired a new position in ProShares UltraPro QQQ, purchasing 5,400 shares valued at approximately $448,000 during the second quarter.
• Several hedge funds significantly increased their stakes in ProShares UltraPro QQQ, with IMC Chicago LLC growing its position by an impressive 9,296.8%, acquiring over 1.1 million shares.
• ProShares UltraPro QQQ has recently cut its dividend, with a quarterly payment of $0.0978 per share, translating to an annual yield of 0.4%.

Chung Wu Investment Group LLC acquired a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,400 shares of the exchange traded fund's stock, valued at approximately $448,000.

A number of other hedge funds also recently bought and sold shares of the company. IMC Chicago LLC grew its position in ProShares UltraPro QQQ by 9,296.8% during the second quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund's stock valued at $96,953,000 after acquiring an additional 1,155,681 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of ProShares UltraPro QQQ during the 2nd quarter valued at $206,000. Financial Insights Inc. purchased a new position in ProShares UltraPro QQQ in the 2nd quarter worth $213,000. Segment Wealth Management LLC raised its position in ProShares UltraPro QQQ by 34.4% in the 2nd quarter. Segment Wealth Management LLC now owns 9,996 shares of the exchange traded fund's stock worth $830,000 after purchasing an additional 2,560 shares during the period. Finally, Keystone Financial Group Inc. purchased a new stake in ProShares UltraPro QQQ during the second quarter valued at about $48,000.

ProShares UltraPro QQQ Trading Down 1.4%

Shares of NASDAQ:TQQQ opened at $104.70 on Monday. The stock has a market capitalization of $28.00 billion, a P/E ratio of 38.25 and a beta of 3.45. The stock's 50-day moving average price is $94.15 and its 200-day moving average price is $76.66. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $106.87.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were paid a $0.0978 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 24th.

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.

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