SteelPeak Wealth LLC Invests $2.53 Million in ProShares UltraPro QQQ $TQQQ

Key Points

• SteelPeak Wealth LLC invested approximately $2.53 million in ProShares UltraPro QQQ (NASDAQ:TQQQ), acquiring 30,368 shares in the second quarter.
• Other institutional investors have significantly increased their holdings in TQQQ, with Kingstone Capital Partners and IMC Chicago LLC making substantial new purchases.
• The stock of ProShares UltraPro QQQ has faced a 1.6% decline, and the firm recently cut its quarterly dividend to $0.0978 per share, yielding 0.4% annually.

SteelPeak Wealth LLC purchased a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,368 shares of the exchange traded fund's stock, valued at approximately $2,527,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC purchased a new position in ProShares UltraPro QQQ in the 2nd quarter worth approximately $395,951,000. Oriental Harbor Investment Fund boosted its holdings in 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 during the period. IMC Chicago LLC boosted its holdings in ProShares UltraPro QQQ by 9,296.8% in the 2nd quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund's stock worth $96,953,000 after acquiring an additional 1,155,681 shares during the period. Jump Financial LLC purchased a new position in ProShares UltraPro QQQ in the 1st quarter worth approximately $53,458,000. Finally, Goldman Sachs Group Inc. boosted its holdings in 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 during the period.

ProShares UltraPro QQQ Stock Down 1.6%

NASDAQ TQQQ opened at $105.31 on Wednesday. The stock has a market cap of $28.17 billion, a PE ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $108.06. The business has a 50 day moving average price of $94.81 and a two-hundred day moving average price of $77.17.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were given a $0.0978 dividend. This represents a $0.39 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 24th.

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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