Howard Capital Management Inc. Sells 6,254,461 Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ)

Howard Capital Management Inc. trimmed its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 93.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,618 shares of the exchange traded fund's stock after selling 6,254,461 shares during the period. ProShares UltraPro QQQ makes up approximately 0.4% of Howard Capital Management Inc.'s holdings, making the stock its 24th biggest holding. Howard Capital Management Inc. owned 0.11% of ProShares UltraPro QQQ worth $23,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TQQQ. Raymond James Financial Inc. acquired a new stake in shares of ProShares UltraPro QQQ in the 4th quarter valued at approximately $364,000. Thrivent Financial for Lutherans bought a new stake in ProShares UltraPro QQQ during the 4th quarter worth approximately $212,000. LPL Financial LLC increased its stake in ProShares UltraPro QQQ by 15.5% during the 4th quarter. LPL Financial LLC now owns 71,975 shares of the exchange traded fund's stock worth $5,695,000 after purchasing an additional 9,684 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in ProShares UltraPro QQQ during the 4th quarter worth approximately $390,000. Finally, Sepio Capital LP bought a new stake in ProShares UltraPro QQQ during the 4th quarter worth approximately $201,000.

ProShares UltraPro QQQ Price Performance

Shares of TQQQ traded down $5.29 during mid-day trading on Friday, hitting $82.92. 109,494,538 shares of the company's stock were exchanged, compared to its average volume of 84,834,188. The company has a market cap of $25.56 billion, a PE ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a 52 week low of $35.00 and a 52 week high of $93.79. The company has a 50-day simple moving average of $79.82 and a 200 day simple moving average of $71.38.

ProShares UltraPro QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were paid a dividend of $0.2183 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $0.87 annualized dividend and a dividend yield of 1.1%. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

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.