Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• Empirical Wealth Management invested approximately $2.46 million in ProShares UltraPro QQQ (NASDAQ:TQQQ), acquiring 42,900 shares in the first quarter.
• ProShares UltraPro QQQ has announced a quarterly dividend of $0.2183 per share, an increase from the previous dividend of $0.20, representing an annualized yield of 1.0%.
• The stock is trading at $88.21 with a market cap of $27.61 billion and a P/E ratio of 38.25, having experienced a year-to-date low of $35.00 and a high of $93.79.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 42,900 shares of the exchange traded fund's stock, valued at approximately $2,458,000.

Several other institutional investors also recently added to or reduced their stakes in the company. MRP Capital Investments LLC acquired a new position in ProShares UltraPro QQQ in the first quarter valued at $29,000. Cary Street Partners Financial LLC bought a new stake in shares of ProShares UltraPro QQQ in the 4th quarter worth approximately $47,000. Columbia River Financial Group LLC acquired a new stake in ProShares UltraPro QQQ in the 1st quarter valued at approximately $47,000. Wolff Wiese Magana LLC acquired a new stake in ProShares UltraPro QQQ in the 1st quarter valued at approximately $94,000. Finally, Beacon Capital Management LLC increased its position in shares of ProShares UltraPro QQQ by 32.8% during 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.

ProShares UltraPro QQQ Stock Down 6.0%

Shares of ProShares UltraPro QQQ stock traded down $5.29 during midday trading on Friday, hitting $82.92. The company's stock had a trading volume of 109,494,538 shares, compared to its average volume of 84,834,188. The firm has a market capitalization of $25.56 billion, a P/E ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a 1-year low of $35.00 and a 1-year high of $93.79. The stock has a 50-day simple moving average of $79.82 and a 200-day simple moving average of $71.38.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were issued a $0.2183 dividend. This represents a $0.87 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 25th. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

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.