October Effect Ltd Acquires Shares of 61,493 ProShares UltraPro QQQ $TQQQ

Key Points

• October Effect Ltd opened a new position in ProShares UltraPro QQQ (TQQQ), acquiring 61,493 shares worth about $3.24 million, which represents 3.6% of its portfolio and is its sixth-largest holding.
• Several other institutions materially increased TQQQ stakes—e.g., Paragon Advisors added 74,933 shares (up 104.6%) to 146,543 shares and Diversified Trust doubled to 110,000 shares—signaling rising institutional demand.
• TQQQ is a 3x leveraged ETF tied to the NASDAQ-100 with high volatility (beta 3.46); its 52-week range is $17.50–$60.69, recent price near $43, and it pays a small annualized dividend (~0.7% yield).

October Effect Ltd acquired a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,493 shares of the exchange traded fund's stock, valued at approximately $3,242,000. ProShares UltraPro QQQ makes up 3.6% of October Effect Ltd's investment portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sherman Wealth Management LLC purchased a new position in shares of ProShares UltraPro QQQ during the fourth quarter valued at about $2,249,000. Paragon Advisors LLC lifted its holdings in ProShares UltraPro QQQ by 104.6% in the fourth quarter. Paragon Advisors LLC now owns 146,543 shares of the exchange traded fund's stock worth $7,726,000 after buying an additional 74,933 shares during the period. MFG Wealth Management Inc. lifted its holdings in ProShares UltraPro QQQ by 98.3% in the fourth quarter. MFG Wealth Management Inc. now owns 67,453 shares of the exchange traded fund's stock worth $3,556,000 after buying an additional 33,442 shares during the period. Spire Wealth Management boosted its position in ProShares UltraPro QQQ by 4,456.0% during the 4th quarter. Spire Wealth Management now owns 28,657 shares of the exchange traded fund's stock valued at $1,511,000 after acquiring an additional 28,028 shares in the last quarter. Finally, Diversified Trust Co. boosted its position in ProShares UltraPro QQQ by 100.0% during the 4th quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund's stock valued at $5,799,000 after acquiring an additional 55,000 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

TQQQ stock opened at $43.33 on Friday. ProShares UltraPro QQQ has a fifty-two week low of $17.50 and a fifty-two week high of $60.69. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. The business's 50 day moving average price is $48.37 and its two-hundred day moving average price is $51.70.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were given a dividend of $0.0716 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.29 annualized dividend and a dividend yield of 0.7%.

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.

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