ProShares UltraPro QQQ $TQQQ is Alpha Wealth Funds LLC's 3rd Largest Position

Key Points

• Alpha Wealth Funds LLC significantly increased its position in ProShares UltraPro QQQ by 132.9% in the second quarter, making it the fund's 3rd largest position with shares valued at approximately $4.25 million.
• Several other institutional investors are also investing in ProShares UltraPro QQQ, with multiple new stakes purchased during the first and second quarters totaling over $149,000.
• The ProShares UltraPro QQQ ETF, which aims to achieve 300% of the daily performance of the NASDAQ-100 Index, recently cut its dividend, now yielding 0.4% annually.

Alpha Wealth Funds LLC increased its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 132.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,171 shares of the exchange traded fund's stock after purchasing an additional 29,200 shares during the quarter. ProShares UltraPro QQQ makes up approximately 3.6% of Alpha Wealth Funds LLC's investment portfolio, making the stock its 3rd largest position. Alpha Wealth Funds LLC's holdings in ProShares UltraPro QQQ were worth $4,247,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TQQQ. Ameritas Advisory Services LLC purchased a new stake in ProShares UltraPro QQQ in the 2nd quarter valued at $25,000. MRP Capital Investments LLC purchased a new stake in ProShares UltraPro QQQ in the 1st quarter valued at $29,000. Columbia River Financial Group LLC purchased a new stake in ProShares UltraPro QQQ in the 1st quarter valued at $47,000. Keystone Financial Group Inc. purchased a new stake in ProShares UltraPro QQQ in the 2nd quarter valued at $48,000. Finally, Dogwood Wealth Management LLC grew its holdings in ProShares UltraPro QQQ by 302.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 1,001 shares of the exchange traded fund's stock valued at $83,000 after buying an additional 752 shares in the last quarter.

ProShares UltraPro QQQ Stock Up 1.9%

Shares of NASDAQ:TQQQ opened at $103.99 on Friday. The business has a fifty day moving average of $97.28 and a two-hundred day moving average of $79.50. The stock has a market cap of $28.38 billion, a P/E ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a 52-week low of $35.00 and a 52-week high of $109.66.

ProShares UltraPro QQQ Cuts Dividend

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

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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