Janney Montgomery Scott LLC Takes $208,000 Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Janney Montgomery Scott LLC acquired a new stake in ProShares UltraPro QQQ ($TQQQ) by purchasing 2,500 shares worth approximately $208,000 in the second quarter.
• Several other hedge funds have also increased their positions in TQQQ, with Jump Financial LLC making a substantial purchase worth $53.5 million during the first quarter.
• The company recently announced a quarterly dividend of $0.0978 per share, resulting in an annualized dividend of $0.39 and a yield of 0.4%.

Janney Montgomery Scott LLC bought a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the exchange traded fund's stock, valued at approximately $208,000.

A number of other hedge funds also recently modified their holdings of TQQQ. Jump Financial LLC purchased a new stake in shares of ProShares UltraPro QQQ during the first quarter worth $53,458,000. Cutler Investment Counsel LLC purchased a new stake in shares of ProShares UltraPro QQQ during the first quarter worth $202,000. SBI Securities Co. Ltd. raised its holdings in shares of ProShares UltraPro QQQ by 24.0% during the first quarter. SBI Securities Co. Ltd. now owns 156,260 shares of the exchange traded fund's stock worth $8,954,000 after acquiring an additional 30,266 shares in the last quarter. KG&L Capital Management LLC acquired a new position in ProShares UltraPro QQQ during the first quarter worth $1,081,000. Finally, Avidian Wealth Enterprises LLC raised its holdings in ProShares UltraPro QQQ by 103.9% during the first 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 in the last quarter.

ProShares UltraPro QQQ Price Performance

NASDAQ TQQQ opened at $107.77 on Wednesday. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $109.66. The stock's 50-day moving average is $97.87 and its two-hundred day moving average is $80.36. The firm has a market cap of $29.50 billion, a P/E ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were given a dividend of $0.0978 per share. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%.

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.

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