Flow Traders U.S. LLC Makes New $11.36 Million Investment in ProShares UltraPro QQQ $TQQQ

Key Points

• Flow Traders U.S. LLC has made a new investment worth approximately $11.36 million in ProShares UltraPro QQQ (NASDAQ:TQQQ) by purchasing 198,300 shares during the 1st quarter.
• The investment underscores a trend, as several other institutional investors also increased their stakes in ProShares UltraPro QQQ during the same period, indicating growing interest in this leveraged ETF.
• ProShares UltraPro QQQ recently announced a quarterly dividend of $0.2183 per share, representing a 1.0% yield and an increase from its previous dividend amount.

Flow Traders U.S. LLC bought a new position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 198,300 shares of the exchange traded fund's stock, valued at approximately $11,363,000. Flow Traders U.S. LLC owned 0.05% of ProShares UltraPro QQQ as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TQQQ. TB Alternative Assets Ltd. purchased a new stake in shares of ProShares UltraPro QQQ in the 1st quarter worth approximately $26,495,000. WT Asset Management Ltd purchased a new stake in shares of ProShares UltraPro QQQ in the 1st quarter worth approximately $21,201,000. Avidian Wealth Enterprises LLC grew its stake in shares of ProShares UltraPro QQQ by 103.9% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 366,450 shares of the exchange traded fund's stock worth $20,998,000 after buying an additional 186,716 shares during the last quarter. Paragon Advisors LLC grew its stake in shares of ProShares UltraPro QQQ by 81.2% in the 1st quarter. Paragon Advisors LLC now owns 323,011 shares of the exchange traded fund's stock worth $18,509,000 after buying an additional 144,755 shares during the last quarter. Finally, Charles Schwab Trust Co purchased a new stake in shares of ProShares UltraPro QQQ in the 1st quarter worth approximately $4,768,000.

ProShares UltraPro QQQ Stock Performance

Shares of ProShares UltraPro QQQ stock traded up $3.89 during midday trading on Friday, hitting $90.38. The company had a trading volume of 66,090,111 shares, compared to its average volume of 82,439,875. The stock has a market capitalization of $27.86 billion, a P/E ratio of 38.25 and a beta of 3.45. The company has a 50 day moving average of $85.29 and a 200 day moving average of $72.06. ProShares UltraPro QQQ has a 52-week low of $35.00 and a 52-week high of $96.32.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were paid a $0.2183 dividend. This represents a $0.87 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, June 25th. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

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.