Oriental Harbor Investment Master Fund Trims Stock Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Oriental Harbor Investment Master Fund decreased its stake in ProShares UltraPro QQQ (TQQQ) by 16.8%, now holding approximately 1,260,094 shares worth about $104.6 million.
• Other institutional investors, including Kingstone Capital Partners, have increased their holdings in ProShares UltraPro QQQ significantly, highlighting a trend of growing interest in this exchange-traded fund.
• The fund has announced a quarterly dividend of $0.0978 per share, leading to an annualized yield of 0.4%, even after a recent cut in dividends.

Oriental Harbor Investment Master Fund trimmed its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260,094 shares of the exchange traded fund's stock after selling 255,316 shares during the period. ProShares UltraPro QQQ makes up approximately 7.5% of Oriental Harbor Investment Master Fund's holdings, making the stock its 6th biggest holding. Oriental Harbor Investment Master Fund owned approximately 0.40% of ProShares UltraPro QQQ worth $104,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in ProShares UltraPro QQQ during the second quarter valued at $395,951,000. Oriental Harbor Investment Fund increased its holdings in shares of ProShares UltraPro QQQ by 47.3% in the 1st quarter. Oriental Harbor Investment Fund now owns 1,515,410 shares of the exchange traded fund's stock worth $86,488,000 after buying an additional 486,506 shares during the last quarter. IMC Chicago LLC raised its position in shares of ProShares UltraPro QQQ by 9,296.8% during the 2nd quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund's stock valued at $96,953,000 after buying an additional 1,155,681 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of ProShares UltraPro QQQ during the 1st quarter valued at about $53,458,000. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of ProShares UltraPro QQQ in the 2nd quarter valued at about $54,068,000.

ProShares UltraPro QQQ Trading Down 1.1%

TQQQ opened at $102.05 on Friday. The stock has a 50-day moving average of $97.04 and a 200 day moving average of $79.05. ProShares UltraPro QQQ has a 12 month low of $35.00 and a 12 month high of $109.66. The firm has a market cap of $27.33 billion, a P/E ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were given a dividend of $0.0978 per share. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.39 annualized dividend and a dividend yield of 0.4%.

About ProShares UltraPro QQQ

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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