Goldstone Financial Group LLC Invests $299,000 in ProShares UltraPro QQQ $TQQQ

Key Points

• Goldstone Financial Group LLC invested approximately $299,000 in ProShares UltraPro QQQ ($TQQQ), purchasing 3,527 shares in the second quarter.
• The company recently increased its quarterly dividend to $0.2183 per share, with a dividend yield of 0.9%, up from the previous $0.20 per share.
• ProShares UltraPro QQQ is designed to achieve 300% of the daily performance of the NASDAQ-100 Index, making it a highly leveraged investment.

Goldstone Financial Group LLC acquired a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,527 shares of the exchange traded fund's stock, valued at approximately $299,000.

Other institutional investors also recently bought and sold shares of the company. MRP Capital Investments LLC purchased a new stake in ProShares UltraPro QQQ in the first quarter valued at $29,000. Columbia River Financial Group LLC purchased a new position in ProShares UltraPro QQQ during the first quarter valued at approximately $47,000. Wolff Wiese Magana LLC acquired a new stake in shares of ProShares UltraPro QQQ during the 1st quarter worth approximately $94,000. Beacon Capital Management LLC grew its stake 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 worth $104,000 after purchasing an additional 450 shares during the period. Finally, Canton Hathaway LLC purchased a new stake in ProShares UltraPro QQQ during the first quarter worth $118,000.

ProShares UltraPro QQQ Stock Performance

NASDAQ TQQQ traded up $2.00 during mid-day trading on Friday, reaching $102.98. 42,013,788 shares of the stock were exchanged, compared to its average volume of 79,387,609. The business's 50 day moving average is $90.88 and its 200-day moving average is $73.68. The company has a market capitalization of $31.74 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 $103.29.

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 given a dividend of $0.2183 per share. This is a positive change from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, June 25th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 0.8%.

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.