ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Position Raised by Paragon Advisors LLC

Paragon Advisors LLC grew its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 81.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,011 shares of the exchange traded fund's stock after purchasing an additional 144,755 shares during the period. ProShares UltraPro QQQ makes up approximately 7.0% of Paragon Advisors LLC's holdings, making the stock its 2nd largest holding. Paragon Advisors LLC owned approximately 0.08% of ProShares UltraPro QQQ worth $18,509,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Ameliora Wealth Management Ltd. lifted its stake in shares of ProShares UltraPro QQQ by 199.6% during the first quarter. Ameliora Wealth Management Ltd. now owns 14,795 shares of the exchange traded fund's stock worth $848,000 after purchasing an additional 9,856 shares in the last quarter. MADDEN SECURITIES Corp purchased a new stake in shares of ProShares UltraPro QQQ during the 1st quarter valued at about $2,189,000. Millington Financial Advisors LLC lifted its position in ProShares UltraPro QQQ by 3.9% during the 1st quarter. Millington Financial Advisors LLC now owns 16,016 shares of the exchange traded fund's stock worth $918,000 after acquiring an additional 607 shares in the last quarter. IMC Chicago LLC purchased a new position in ProShares UltraPro QQQ in the 1st quarter worth approximately $712,000. Finally, Greystone Financial Group LLC acquired a new stake in ProShares UltraPro QQQ in the first quarter valued at approximately $737,000.

ProShares UltraPro QQQ Stock Up 1.9%

Shares of TQQQ traded up $1.44 during mid-day trading on Tuesday, reaching $75.98. 60,696,978 shares of the stock traded hands, compared to its average volume of 68,297,925. The stock has a fifty day simple moving average of $58.72 and a 200 day simple moving average of $71.49. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $93.79. The firm has a market cap of $26.10 billion, a price-to-earnings ratio of 38.25 and a beta of 3.54.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a dividend of $0.1977 per share. This represents a $0.79 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, March 26th.

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.