ProShares UltraPro QQQ $TQQQ Shares Sold by World Equity Group Inc.

Key Points

• World Equity Group Inc. has reduced its stake in ProShares UltraPro QQQ (TQQQ) by 5.7%, now holding 41,100 shares, valued at approximately $3.41 million.
• ProShares UltraPro QQQ recently cut its quarterly dividend to $0.0978, translating to an annual yield of 0.4%.
• The stock of ProShares UltraPro QQQ is currently down 2.0% with a recent trading price of $102.61 and a market capitalization of $31.62 billion.

World Equity Group Inc. decreased its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,100 shares of the exchange traded fund's stock after selling 2,500 shares during the quarter. ProShares UltraPro QQQ accounts for about 0.9% of World Equity Group Inc.'s holdings, making the stock its 20th biggest holding. World Equity Group Inc.'s holdings in ProShares UltraPro QQQ were worth $3,411,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD raised its holdings in ProShares UltraPro QQQ by 21.0% in the second quarter. Main Street Group LTD now owns 59,868 shares of the exchange traded fund's stock valued at $4,969,000 after acquiring an additional 10,381 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new position in ProShares UltraPro QQQ in the second quarter valued at approximately $87,000. Droms Strauss Advisors Inc. MO ADV purchased a new position in ProShares UltraPro QQQ in the second quarter valued at approximately $332,000. Kwmg LLC purchased a new position in ProShares UltraPro QQQ in the second quarter valued at approximately $474,000. Finally, Crew Capital Management Ltd. purchased a new position in ProShares UltraPro QQQ in the second quarter valued at approximately $283,000.

ProShares UltraPro QQQ Stock Down 2.0%

Shares of ProShares UltraPro QQQ stock opened at $102.61 on Wednesday. The firm has a market capitalization of $31.62 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 $105.08. The firm's 50 day moving average is $91.64 and its two-hundred day moving average is $74.20.

ProShares UltraPro QQQ Cuts Dividend

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

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.

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