Maxi Investments CY Ltd Makes New $4.19 Million Investment in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• Maxi Investments CY Ltd has acquired 73,200 shares of ProShares UltraPro QQQ (NASDAQ:TQQQ), investing approximately $4.19 million during the first quarter.
• The ETF declared a quarterly dividend of $0.2183, indicating an annualized dividend of $0.87 and a yield of 1.0%, up from the previous dividend of $0.20.
• ProShares UltraPro QQQ aims for 300% of the daily performance of the NASDAQ-100 Index, utilizing equity securities and derivatives in its investment strategy.

Maxi Investments CY Ltd purchased a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 73,200 shares of the exchange traded fund's stock, valued at approximately $4,194,000.

Several other institutional investors and hedge funds have also modified their holdings of TQQQ. MRP Capital Investments LLC purchased a new position in shares of ProShares UltraPro QQQ during the first quarter valued at approximately $29,000. Cary Street Partners Financial LLC purchased a new position in ProShares UltraPro QQQ during the fourth quarter worth approximately $47,000. Columbia River Financial Group LLC purchased a new position in ProShares UltraPro QQQ during the first quarter worth approximately $47,000. Wolff Wiese Magana LLC purchased a new position in ProShares UltraPro QQQ during the first quarter worth approximately $94,000. Finally, Beacon Capital Management LLC raised its stake in ProShares UltraPro QQQ by 32.8% during the first 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.

ProShares UltraPro QQQ Price Performance

NASDAQ:TQQQ traded up $2.42 during trading hours on Friday, reaching $92.16. 52,008,376 shares of the company were exchanged, compared to its average volume of 84,219,242. The firm has a market cap of $28.40 billion, a price-to-earnings 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 stock has a 50 day simple moving average of $81.76 and a 200 day simple moving average of $71.60.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.2183 per share. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. This represents a $0.87 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 25th.

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.