Townsquare Capital LLC Boosts Position in 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 stake in ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 145.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,760 shares of the exchange traded fund's stock after purchasing an additional 21,183 shares during the period. Townsquare Capital LLC's holdings in ProShares UltraPro QQQ were worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TQQQ. Envestnet Asset Management Inc. purchased a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at approximately $390,000. Bank of Montreal Can boosted its stake in shares of ProShares UltraPro QQQ by 14.0% in the fourth quarter. Bank of Montreal Can now owns 15,521 shares of the exchange traded fund's stock valued at $1,228,000 after buying an additional 1,908 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at approximately $364,000. Synovus Financial Corp purchased a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at approximately $348,000. Finally, Mariner LLC boosted its stake in shares of ProShares UltraPro QQQ by 109.9% in the fourth quarter. Mariner LLC now owns 59,818 shares of the exchange traded fund's stock valued at $4,733,000 after buying an additional 31,319 shares in the last quarter.

ProShares UltraPro QQQ Stock Down 1.4%

Shares of ProShares UltraPro QQQ stock traded down $1.34 during trading on Friday, reaching $93.26. The company's stock had a trading volume of 47,800,857 shares, compared to its average volume of 83,158,969. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $96.32. The company has a market capitalization of $28.74 billion, a P/E ratio of 38.25 and a beta of 3.45. The business has a 50 day moving average price of $83.83 and a 200-day moving average price of $71.84.

ProShares UltraPro QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were given a dividend of $0.2183 per share. The ex-dividend date was Wednesday, June 25th. This is a positive change from ProShares UltraPro QQQ's previous quarterly dividend of $0.20. This represents a $0.87 dividend on an annualized basis and a yield of 0.9%.

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.