Maridea Wealth Management LLC Acquires Shares of 11,943 ProShares UltraPro QQQ $TQQQ

Key Points

• Maridea Wealth Management LLC acquired a stake of 11,943 shares in ProShares UltraPro QQQ ($TQQQ), valued at approximately $991,000, during the second quarter.
• ProShares UltraPro QQQ declared a quarterly dividend of $0.0978 per share, with an annualized yield of 0.4%, scheduled for payment on September 30th.
• The fund has seen significant position adjustments from multiple institutional investors, with Goldman Sachs Group Inc. increasing its stake by 4,237% recently.

Maridea Wealth Management LLC acquired a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,943 shares of the exchange traded fund's stock, valued at approximately $991,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of ProShares UltraPro QQQ in the second quarter valued at approximately $395,951,000. Oriental Harbor Investment Fund grew its position in shares of ProShares UltraPro QQQ by 47.3% in the first quarter. Oriental Harbor Investment Fund now owns 1,515,410 shares of the exchange traded fund's stock valued at $86,488,000 after purchasing an additional 486,506 shares during the last quarter. Jump Financial LLC acquired a new position in shares of ProShares UltraPro QQQ in the first quarter valued at approximately $53,458,000. Goldman Sachs Group Inc. grew its position in shares of ProShares UltraPro QQQ by 4,237.0% in the first quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund's stock valued at $29,821,000 after purchasing an additional 508,444 shares during the last quarter. Finally, PPSC Investment Service Corp grew its position in shares of ProShares UltraPro QQQ by 16.3% in the first 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.

ProShares UltraPro QQQ Trading Down 1.2%

ProShares UltraPro QQQ stock opened at $101.41 on Thursday. ProShares UltraPro QQQ has a 12 month low of $35.00 and a 12 month high of $105.08. The stock's 50 day moving average is $91.96 and its 200-day moving average is $74.39. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

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

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.

Want to see what other hedge funds are holding TQQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.