Q3 Asset Management purchased a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,105 shares of the exchange traded fund's stock, valued at approximately $1,381,000. ProShares UltraPro QQQ makes up approximately 0.9% of Q3 Asset Management's portfolio, making the stock its 24th biggest position.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Richmond Brothers Inc. raised its position in ProShares UltraPro QQQ by 1.9% during the fourth quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund's stock valued at $698,000 after acquiring an additional 163 shares in the last quarter. Family Capital Management Inc. raised its position in ProShares UltraPro QQQ by 5.0% during the first quarter. Family Capital Management Inc. now owns 4,428 shares of the exchange traded fund's stock valued at $254,000 after acquiring an additional 210 shares in the last quarter. Parallel Advisors LLC raised its position in ProShares UltraPro QQQ by 5.1% during the first quarter. Parallel Advisors LLC now owns 5,654 shares of the exchange traded fund's stock valued at $324,000 after acquiring an additional 274 shares in the last quarter. Golden State Equity Partners raised its position in ProShares UltraPro QQQ by 8.3% during the first quarter. Golden State Equity Partners now owns 4,355 shares of the exchange traded fund's stock valued at $250,000 after acquiring an additional 332 shares in the last quarter. Finally, Beacon Capital Management LLC raised its position in ProShares UltraPro QQQ by 32.8% during the first quarter. Beacon Capital Management LLC now owns 1,823 shares of the exchange traded fund's stock valued at $104,000 after acquiring an additional 450 shares in the last quarter.
ProShares UltraPro QQQ Price Performance
TQQQ stock traded up $0.24 during trading on Wednesday, hitting $85.07. 82,318,512 shares of the company traded hands, compared to its average volume of 70,490,792. The stock's 50-day simple moving average is $74.96 and its 200 day simple moving average is $70.70. The company has a market cap of $27.39 billion, a PE ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a 1 year low of $35.00 and a 1 year high of $93.79.
ProShares UltraPro QQQ Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were given a dividend of $0.2183 per share. This is a boost from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. This represents a $0.87 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, June 25th.
ProShares UltraPro QQQ Company Profile
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Free Report)
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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