Marshall Financial Group LLC Boosts Stock Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Marshall Financial Group LLC increased its stake in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 185.2%, acquiring 13,840 additional shares, bringing its total holdings to 21,313 shares valued at $1,767,000.
• Other institutional investors, such as Goldman Sachs Group Inc. and Jump Financial LLC, also significantly increased their positions in TQQQ during the first quarter, indicating growing institutional interest.
• ProShares UltraPro QQQ announced a quarterly dividend payment of $0.2183, reflecting an increase from its previous dividend, and highlighting the fund's commitment to returning capital to shareholders.

Marshall Financial Group LLC grew its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 185.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,313 shares of the exchange traded fund's stock after acquiring an additional 13,840 shares during the quarter. Marshall Financial Group LLC's holdings in ProShares UltraPro QQQ were worth $1,767,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. MFG Wealth Management Inc. acquired a new stake in shares of ProShares UltraPro QQQ in the second quarter valued at approximately $3,266,000. Westmount Partners LLC acquired a new stake in shares of ProShares UltraPro QQQ during the second quarter worth $338,000. Goldstone Financial Group LLC acquired a new stake in shares of ProShares UltraPro QQQ during the second quarter worth $299,000. Parallel Advisors LLC lifted its holdings in shares of ProShares UltraPro QQQ by 140.8% during the second quarter. Parallel Advisors LLC now owns 13,615 shares of the exchange traded fund's stock worth $1,130,000 after purchasing an additional 7,961 shares during the period. Finally, Verde Capital Management acquired a new stake in shares of ProShares UltraPro QQQ during the second quarter worth $215,000.

ProShares UltraPro QQQ Stock Up 2.0%

Shares of NASDAQ TQQQ traded up $2.00 during mid-day trading on Friday, hitting $102.98. 42,013,788 shares of the company were exchanged, compared to its average volume of 79,387,609. The stock has a 50 day simple moving average of $90.88 and a 200-day simple moving average of $73.69. ProShares UltraPro QQQ has a 1-year low of $35.00 and a 1-year high of $103.29. The firm has a market cap of $31.74 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were issued a $0.2183 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 0.8%. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, June 25th.

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.