Howard Capital Management Inc. trimmed its holdings in shares of 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 fund owned 414,618 shares of the exchange traded fund's stock after selling 6,254,461 shares during the quarter. ProShares UltraPro QQQ accounts for about 0.4% of Howard Capital Management Inc.'s portfolio, making the stock its 24th largest position. Howard Capital Management Inc. owned 0.11% of ProShares UltraPro QQQ worth $23,758,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. PPSC Investment Service Corp boosted its stake 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 last quarter. TB Alternative Assets Ltd. bought a new stake in shares of ProShares UltraPro QQQ in the 1st quarter valued at $26,495,000. WT Asset Management Ltd bought a new stake in shares of ProShares UltraPro QQQ in the 1st quarter valued at $21,201,000. Avidian Wealth Enterprises LLC boosted 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 valued at $20,998,000 after purchasing an additional 186,716 shares during the last quarter. Finally, Paragon Advisors LLC boosted 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 valued at $18,509,000 after purchasing an additional 144,755 shares during the last quarter.
ProShares UltraPro QQQ Stock Performance
Shares of NASDAQ:TQQQ traded down $5.29 during trading on Friday, reaching $82.92. The stock had a trading volume of 109,325,846 shares, compared to its average volume of 84,832,008. The firm's fifty day moving average is $79.48 and its 200 day moving average is $71.33. ProShares UltraPro QQQ has a 52 week low of $35.00 and a 52 week high of $93.79. The stock has a market cap of $25.95 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.
ProShares UltraPro QQQ Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders 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 dividend yield of 1.1%. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.
ProShares UltraPro QQQ Profile
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Free Report)
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.
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