Ridgepath Capital Management LLC Reduces Holdings in ProShares UltraPro QQQ $TQQQ

Key Points

• Ridgepath Capital Management LLC cut its holdings in ProShares UltraPro QQQ (TQQQ) by 36.0%, holding 104,606 shares valued at approximately $5.99 million as of the latest SEC filing.
• Other institutional investors have shown increased activity, with Oriental Harbor Investment Fund boosting its stake by 47.3% and Goldman Sachs raising its holdings by an impressive 4,237.0% during the same period.
• ProShares UltraPro QQQ recently declared a quarterly dividend of $0.2183, a significant increase from its previous dividend of $0.20, boosting its annualized dividend yield to 0.9%.

Ridgepath Capital Management LLC trimmed its stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,606 shares of the exchange traded fund's stock after selling 58,783 shares during the period. ProShares UltraPro QQQ accounts for about 2.9% of Ridgepath Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Ridgepath Capital Management LLC's holdings in ProShares UltraPro QQQ were worth $5,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Oriental Harbor Investment Fund increased its stake in shares of ProShares UltraPro QQQ by 47.3% in 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 in the last quarter. Jump Financial LLC bought a new position in shares of ProShares UltraPro QQQ in the 1st quarter worth about $53,458,000. Goldman Sachs Group Inc. increased its stake in shares of ProShares UltraPro QQQ by 4,237.0% in 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 in the last quarter. PPSC Investment Service Corp increased its stake in shares of ProShares UltraPro QQQ by 16.3% in 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 in the last quarter. Finally, TB Alternative Assets Ltd. bought a new position in shares of ProShares UltraPro QQQ in the 1st quarter worth about $26,495,000.

ProShares UltraPro QQQ Price Performance

Shares of ProShares UltraPro QQQ stock opened at $95.57 on Friday. The company has a 50-day moving average of $89.00 and a 200 day moving average of $72.60. The firm has a market cap of $29.45 billion, a price-to-earnings 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 $96.32.

ProShares UltraPro QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were paid a $0.2183 dividend. This represents a $0.87 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 25th. 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.

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