Oriental Harbor Investment Fund Has $86.49 Million Stock Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Oriental Harbor Investment Fund increased its stake in ProShares UltraPro QQQ by 47.3% in Q1, now holding approximately $86.49 million worth, making it the fund's 8th largest position.
• ProShares UltraPro QQQ announced a quarterly dividend of $0.2183, up from the previous $0.20, amounting to an annualized yield of 0.9%.
• The stock opened at $93.13, with a market cap of $28.70 billion, and has seen significant institutional interest, including major investments from Goldman Sachs and Jump Financial.

Oriental Harbor Investment Fund increased its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 47.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,515,410 shares of the exchange traded fund's stock after buying an additional 486,506 shares during the period. ProShares UltraPro QQQ comprises approximately 9.6% of Oriental Harbor Investment Fund's holdings, making the stock its 8th biggest holding. Oriental Harbor Investment Fund owned about 0.42% of ProShares UltraPro QQQ worth $86,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in ProShares UltraPro QQQ in the first quarter valued at $53,458,000. Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 508,444 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in ProShares UltraPro QQQ in the first quarter valued at $26,495,000. WT Asset Management Ltd acquired a new stake in ProShares UltraPro QQQ in the first quarter valued at $21,201,000. Finally, Flow Traders U.S. LLC acquired a new stake in ProShares UltraPro QQQ in the first quarter valued at $11,363,000.

ProShares UltraPro QQQ Price Performance

Shares of TQQQ stock traded up $1.19 during trading hours on Friday, reaching $96.76. The stock had a trading volume of 45,987,487 shares, compared to its average volume of 80,201,625. ProShares UltraPro QQQ has a twelve month low of $35.00 and a twelve month high of $97.37. The firm has a 50-day simple moving average of $89.25 and a 200-day simple moving average of $72.70. The firm has a market capitalization of $29.82 billion, a PE ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

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

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.