ProShares UltraPro QQQ (NASDAQ:TQQQ) Reaches New 1-Year High - Here's What Happened

Key Points

• ProShares UltraPro QQQ (NASDAQ:TQQQ) shares reached a new 52-week high, trading at $96.46 with a market capitalization of $29.70 billion.
• The company recently increased its quarterly dividend to $0.2183 per share, marking a rise from the previous dividend of $0.20.
• Institutional investors have been actively buying shares, with several firms boosting their stakes in ProShares UltraPro QQQ over recent quarters.

ProShares UltraPro QQQ (NASDAQ:TQQQ - ) shares hit a new 52-week high during trading on Friday . The company traded as high as $96.33 and last traded at $96.46, with a volume of 12735355 shares trading hands. The stock had previously closed at $95.57.

ProShares UltraPro QQQ Price Performance

The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45. The business has a fifty day moving average price of $89.00 and a 200 day moving average price of $72.60.

ProShares UltraPro QQQ Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. HBW Advisory Services LLC boosted its stake in ProShares UltraPro QQQ by 3.2% during the second quarter. HBW Advisory Services LLC now owns 4,542 shares of the exchange traded fund's stock valued at $377,000 after buying an additional 139 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in ProShares UltraPro QQQ by 2.9% during the first quarter. Kovitz Investment Group Partners LLC now owns 5,691 shares of the exchange traded fund's stock valued at $326,000 after buying an additional 158 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in ProShares UltraPro QQQ by 2.5% during the second quarter. Physician Wealth Advisors Inc. now owns 7,984 shares of the exchange traded fund's stock valued at $663,000 after buying an additional 198 shares in the last quarter. Family Capital Management Inc. boosted its stake in ProShares UltraPro QQQ by 5.0% during the first quarter. Family Capital Management Inc. now owns 4,428 shares of the exchange traded fund's stock valued at $254,000 after buying an additional 210 shares in the last quarter. Finally, MRP Capital Investments LLC boosted its stake in ProShares UltraPro QQQ by 50.0% during the second quarter. MRP Capital Investments LLC now owns 750 shares of the exchange traded fund's stock valued at $62,000 after buying an additional 250 shares in the last quarter.

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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