Members Advisory Group LLC Acquires New Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Members Advisory Group LLC has acquired a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ), purchasing 2,843 shares valued at approximately $236,000.
• Multiple other hedge funds have also made significant changes to their holdings in TQQQ, with recent positions adding between $25,000 to $48,000.
• ProShares UltraPro QQQ recently declared a quarterly dividend of $0.0978 per share, equating to an annual yield of 0.4%.

Members Advisory Group LLC bought a new position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,843 shares of the exchange traded fund's stock, valued at approximately $236,000.

Several other hedge funds have also modified their holdings of TQQQ. Ameritas Advisory Services LLC acquired a new position in ProShares UltraPro QQQ during the second quarter worth $25,000. MRP Capital Investments LLC purchased a new stake in shares of ProShares UltraPro QQQ during the 1st quarter worth $29,000. Columbia River Financial Group LLC acquired a new position in shares of ProShares UltraPro QQQ during the 1st quarter worth $47,000. Keystone Financial Group Inc. purchased a new position in shares of ProShares UltraPro QQQ in the 2nd quarter valued at about $48,000. Finally, Dogwood Wealth Management LLC lifted its stake in shares of ProShares UltraPro QQQ by 302.0% in the second quarter. Dogwood Wealth Management LLC now owns 1,001 shares of the exchange traded fund's stock valued at $83,000 after purchasing an additional 752 shares during the period.

ProShares UltraPro QQQ Trading Up 1.9%

Shares of TQQQ opened at $103.99 on Monday. The firm's 50-day moving average is $97.28 and its two-hundred day moving average is $79.71. ProShares UltraPro QQQ has a twelve month low of $35.00 and a twelve month high of $109.66. The firm has a market capitalization of $28.38 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. Shareholders of record on Wednesday, September 24th were given a dividend of $0.0978 per share. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, September 24th.

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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