Finward Bancorp Acquires New Shares in ProShares UltraPro QQQ $TQQQ

Key Points

• Finward Bancorp acquired 53,399 shares of ProShares UltraPro QQQ during the third quarter, valued at approximately $4.17 million. TQQQ now represents about 2.9% of the bank’s portfolio and is its 11th-largest holding.
• Other institutional investors also increased or initiated TQQQ positions, including Turner Capital Investments, which purchased a stake valued at approximately $11.51 million.
• TQQQ shares fell 6.0% to $74.12 in mid-day trading. The leveraged ETF targets 300% of the Nasdaq-100’s daily performance and has a beta of 3.71, highlighting its elevated volatility.

Finward Bancorp bought a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 53,399 shares of the exchange traded fund's stock, valued at approximately $4,167,000. ProShares UltraPro QQQ makes up about 2.9% of Finward Bancorp's holdings, making the stock its 11th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of TQQQ. Signal Advisors Wealth LLC raised its stake in ProShares UltraPro QQQ by 8.2% during the third quarter. Signal Advisors Wealth LLC now owns 4,789 shares of the exchange traded fund's stock worth $374,000 after acquiring an additional 362 shares in the last quarter. Castleview Partners LLC boosted its stake in shares of ProShares UltraPro QQQ by 28.8% in the 3rd quarter. Castleview Partners LLC now owns 8,056 shares of the exchange traded fund's stock valued at $629,000 after purchasing an additional 1,801 shares in the last quarter. Turner Capital Investments LLC acquired a new stake in shares of ProShares UltraPro QQQ in the 3rd quarter valued at $11,510,000. Anchor Investment Management LLC bought a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter worth about $65,000. Finally, Smith Chas P & Associates PA Cpas grew its holdings in shares of ProShares UltraPro QQQ by 57.4% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 13,705 shares of the exchange traded fund's stock worth $1,056,000 after purchasing an additional 5,000 shares during the last quarter.

ProShares UltraPro QQQ Trading Down 6.0%

Shares of ProShares UltraPro QQQ stock traded down $4.69 during mid-day trading on Wednesday, reaching $74.12. 67,172,634 shares of the stock were exchanged, compared to its average volume of 77,438,930. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 38.25 and a beta of 3.71. The firm has a 50-day simple moving average of $74.65 and a 200 day simple moving average of $70.58. ProShares UltraPro QQQ has a fifty-two week low of $37.32 and a fifty-two week high of $88.09.

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.

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