Finward Bancorp Sells 29,868 Shares of ProShares UltraPro QQQ $TQQQ

Key Points

• Finward Bancorp trimmed its TQQQ stake by 29.4% in Q4, selling 29,868 shares and ending the period with 71,744 shares worth $3.78 million, which represents 2.9% of its holdings and is its 10th-largest position.
• A number of major institutions sharply increased TQQQ exposure—e.g., Cantor Fitzgerald (+823.5% to 779,017 shares), Citigroup (+3,108% to 601,603 shares) and Goldman Sachs (+4,237% to 520,444 shares)—adding hundreds of thousands of shares collectively.
• TQQQ is a 3x leveraged ETF

Finward Bancorp trimmed its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 29.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,744 shares of the exchange traded fund's stock after selling 29,868 shares during the quarter. ProShares UltraPro QQQ makes up 2.9% of Finward Bancorp's holdings, making the stock its 10th biggest holding. Finward Bancorp's holdings in ProShares UltraPro QQQ were worth $3,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Cantor Fitzgerald L. P. raised its position in shares of ProShares UltraPro QQQ by 823.5% during the third quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund's stock worth $80,550,000 after acquiring an additional 694,661 shares during the last quarter. Citigroup Inc. raised its position in shares of ProShares UltraPro QQQ by 3,108.0% during the third quarter. Citigroup Inc. now owns 601,603 shares of the exchange traded fund's stock worth $62,206,000 after acquiring an additional 621,603 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of ProShares UltraPro QQQ by 4,237.0% during the first quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund's stock worth $29,821,000 after acquiring an additional 508,444 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of ProShares UltraPro QQQ by 387.1% during the second quarter. Tower Research Capital LLC TRC now owns 198,910 shares of the exchange traded fund's stock worth $16,510,000 after acquiring an additional 158,074 shares during the last quarter. Finally, Vestia Personal Wealth Advisors raised its position in shares of ProShares UltraPro QQQ by 208.9% during the third quarter. Vestia Personal Wealth Advisors now owns 154,444 shares of the exchange traded fund's stock worth $154,000 after acquiring an additional 104,444 shares during the last quarter.

ProShares UltraPro QQQ Price Performance

Shares of TQQQ opened at $44.10 on Tuesday. ProShares UltraPro QQQ has a 1 year low of $17.50 and a 1 year high of $60.69. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 38.25 and a beta of 3.50. The business has a 50-day moving average of $48.15 and a 200-day moving average of $51.69.

ProShares UltraPro QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a dividend of $0.0716 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, March 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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.