Townsquare Capital LLC Acquires 21,183 Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• Townsquare Capital LLC increased its stake in ProShares UltraPro QQQ by 145.3% during the first quarter, holding a total of 35,760 shares valued at $2,049,000.
• ProShares UltraPro QQQ recently declared a quarterly dividend of $0.2183, reflecting an increase from the previous dividend of $0.20 and representing an annualized yield of 0.9%.
• The stock performance of ProShares UltraPro QQQ has seen a significant fluctuation with a 1-year low of $35.00 and a 1-year high of $94.89.

Townsquare Capital LLC grew its position in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 145.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,760 shares of the exchange traded fund's stock after buying an additional 21,183 shares during the quarter. Townsquare Capital LLC's holdings in ProShares UltraPro QQQ were worth $2,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TQQQ. Headlands Technologies LLC bought a new position in ProShares UltraPro QQQ in the 1st quarter valued at approximately $1,408,000. Maxi Investments CY Ltd bought a new position in ProShares UltraPro QQQ in the 1st quarter valued at approximately $4,194,000. Cedar Wealth Management LLC bought a new position in ProShares UltraPro QQQ in the 1st quarter valued at approximately $549,000. US Bancorp DE increased its position in ProShares UltraPro QQQ by 266.1% during the 1st quarter. US Bancorp DE now owns 5,342 shares of the exchange traded fund's stock valued at $306,000 after purchasing an additional 3,883 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at approximately $2,458,000.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ stock traded down $1.34 during trading hours on Friday, hitting $93.26. 47,800,857 shares of the company were exchanged, compared to its average volume of 83,158,969. The firm has a market cap of $28.74 billion, a P/E 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 $96.32. The company has a 50 day simple moving average of $83.45 and a two-hundred day simple moving average of $71.83.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were paid a dividend of $0.2183 per share. This represents a $0.87 dividend on an annualized basis 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.

About ProShares UltraPro QQQ

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.