FourThought Financial Partners LLC Purchases 4,899 Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• FourThought Financial Partners LLC increased its holdings in ProShares UltraPro QQQ (TQQQ) by 154.5%, acquiring an additional 4,899 shares during the first quarter, bringing its total to 8,070 shares worth $462,000.
• ProShares UltraPro QQQ recently declared an increased quarterly dividend of $0.2183 per share, up from $0.20, representing an annualized yield of 0.98%.
• The ETF seeks to achieve 300% of the daily performance of the NASDAQ-100 Index through investments in equity securities and derivatives.

FourThought Financial Partners LLC grew its holdings in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 154.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,070 shares of the exchange traded fund's stock after buying an additional 4,899 shares during the quarter. FourThought Financial Partners LLC's holdings in ProShares UltraPro QQQ were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PPSC Investment Service Corp raised its holdings in shares of ProShares UltraPro QQQ by 16.3% in the 1st quarter. PPSC Investment Service Corp now owns 519,345 shares of the exchange traded fund's stock valued at $29,758,000 after purchasing an additional 72,930 shares during the period. TB Alternative Assets Ltd. acquired a new position in ProShares UltraPro QQQ in the 1st quarter valued at about $26,495,000. WT Asset Management Ltd acquired a new position in ProShares UltraPro QQQ in the 1st quarter valued at about $21,201,000. Avidian Wealth Enterprises LLC grew its stake in 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 valued at $20,998,000 after buying an additional 186,716 shares during the last quarter. Finally, Paragon Advisors LLC grew its stake in 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 valued at $18,509,000 after buying an additional 144,755 shares during the last quarter.

ProShares UltraPro QQQ Stock Performance

TQQQ traded up $0.77 on Wednesday, reaching $90.15. The company had a trading volume of 24,396,998 shares, compared to its average volume of 84,278,898. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $93.79. The stock has a market cap of $28.21 billion, a P/E ratio of 38.25 and a beta of 3.45. The company's fifty day moving average is $78.28 and its 200 day moving average is $70.99.

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. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $0.87 dividend on an annualized basis and a yield of 0.97%. This is a positive change 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.