US Bancorp DE Has $306,000 Stock Holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Key Points

• US Bancorp DE increased its holdings in ProShares UltraPro QQQ by 266.1% in the first quarter, acquiring 5,342 shares valued at $306,000 at the end of the reporting period.
• Other hedge funds have also taken significant positions in ProShares UltraPro QQQ, with TB Alternative Assets Ltd. and WT Asset Management Ltd. acquiring stakes worth over $21 million each.
• The ProShares UltraPro QQQ ETF has a current market capitalization of $29.24 billion, with shares trading at approximately $94.86, reflecting its performance tracking the NASDAQ-100 Index.

US Bancorp DE raised its holdings in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Free Report) by 266.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,342 shares of the exchange traded fund's stock after purchasing an additional 3,883 shares during the quarter. US Bancorp DE's holdings in ProShares UltraPro QQQ were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TQQQ. TB Alternative Assets Ltd. acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $26,495,000. WT Asset Management Ltd acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $21,201,000. Avidian Wealth Enterprises LLC lifted its holdings in ProShares UltraPro QQQ by 103.9% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 366,450 shares of the exchange traded fund's stock valued at $20,998,000 after purchasing an additional 186,716 shares during the last quarter. Paragon Advisors LLC lifted its holdings in ProShares UltraPro QQQ by 81.2% during the 1st quarter. Paragon Advisors LLC now owns 323,011 shares of the exchange traded fund's stock valued at $18,509,000 after purchasing an additional 144,755 shares during the last quarter. Finally, Charles Schwab Trust Co acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $4,768,000.

ProShares UltraPro QQQ Price Performance

Shares of ProShares UltraPro QQQ stock opened at $94.86 on Thursday. The business has a fifty day simple moving average of $83.00 and a two-hundred day simple moving average of $71.73. ProShares UltraPro QQQ has a 1 year low of $35.00 and a 1 year high of $96.32. The company has a market capitalization of $29.24 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

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

ProShares UltraPro QQQ 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.