Mill Creek Capital Advisors LLC Purchases 6,500 Shares of ProShares UltraPro QQQ $TQQQ

Key Points

• Mill Creek Capital Advisors LLC increased its holdings in ProShares UltraPro QQQ by 102.1%, owning a total of 12,869 shares valued at approximately $737,000.
• ProShares UltraPro QQQ recently increased its quarterly dividend to $0.2183 per share, representing a 0.9% dividend yield and an annualized dividend of $0.87.
• The fund aims to achieve 300% of the daily performance of the NASDAQ-100 Index, using various investment strategies including equity securities and derivatives.

Mill Creek Capital Advisors LLC increased its holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 102.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,869 shares of the exchange traded fund's stock after buying an additional 6,500 shares during the period. Mill Creek Capital Advisors LLC's holdings in ProShares UltraPro QQQ were worth $737,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of ProShares UltraPro QQQ during the 4th quarter valued at about $364,000. Envestnet Asset Management Inc. purchased a new position in ProShares UltraPro QQQ in the 4th quarter worth approximately $390,000. Schwallier Wealth Management LLC bought a new position in shares of ProShares UltraPro QQQ in the 4th quarter worth $396,000. Kovitz Investment Group Partners LLC bought a new position in shares of ProShares UltraPro QQQ in the 4th quarter worth $438,000. Finally, Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of ProShares UltraPro QQQ during the 4th quarter valued at $1,964,000.

ProShares UltraPro QQQ Stock Performance

TQQQ traded up $4.41 during trading on Friday, reaching $90.90. The stock had a trading volume of 49,751,048 shares, compared to its average volume of 82,318,406. The business has a 50-day moving average of $84.94 and a 200-day moving average of $72.10. ProShares UltraPro QQQ has a one year low of $35.00 and a one year high of $96.32. The stock has a market cap of $28.02 billion, a PE ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were paid a $0.2183 dividend. This is a positive change 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 1.0%.

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.