Parallel Advisors LLC Has $1.13 Million Position in ProShares UltraPro QQQ $TQQQ

Key Points

• Parallel Advisors LLC increased its stake in ProShares UltraPro QQQ by 140.8%, acquiring an additional 7,961 shares in the second quarter, bringing its total holdings to 13,615 shares valued at $1,130,000.
• ProShares UltraPro QQQ has declared a quarterly dividend of $0.2183, representing an annualized dividend of $0.87 with a yield of 0.9%, which is an increase from the prior dividend of $0.20.
• The fund aims for triple (300%) the daily performance of the NASDAQ-100 Index, operating with a market capitalization of $30.31 billion and a current stock price of $98.33.

Parallel Advisors LLC lifted its stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 140.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,615 shares of the exchange traded fund's stock after purchasing an additional 7,961 shares during the quarter. Parallel Advisors LLC's holdings in ProShares UltraPro QQQ were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TQQQ. Oriental Harbor Investment Fund boosted its position in ProShares UltraPro QQQ by 47.3% during 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 acquiring an additional 486,506 shares during the period. Jump Financial LLC acquired a new stake in ProShares UltraPro QQQ during the 1st quarter worth about $53,458,000. Goldman Sachs Group Inc. boosted its position in ProShares UltraPro QQQ by 4,237.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund's stock worth $29,821,000 after acquiring an additional 508,444 shares during the period. PPSC Investment Service Corp boosted its position in ProShares UltraPro QQQ by 16.3% during the 1st quarter. PPSC Investment Service Corp now owns 519,345 shares of the exchange traded fund's stock worth $29,758,000 after acquiring an additional 72,930 shares during the period. Finally, TB Alternative Assets Ltd. acquired a new stake in ProShares UltraPro QQQ during the 1st quarter worth about $26,495,000.

ProShares UltraPro QQQ Stock Performance

Shares of ProShares UltraPro QQQ stock traded up $2.00 during trading on Friday, hitting $102.98. 42,013,788 shares of the stock traded hands, compared to its average volume of 79,387,609. The stock has a market cap of $31.74 billion, a P/E ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a twelve month low of $35.00 and a twelve month high of $103.29. The company has a fifty day moving average price of $90.88 and a two-hundred day moving average price of $73.69.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.2183 per share. The ex-dividend date was Wednesday, June 25th. This represents a $0.87 annualized dividend and a dividend yield of 0.8%. This is a positive change from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

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.