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

Key Points

• ProShares UltraPro QQQ shares hit a new 52-week high at $93.87, closing at $93.80 with significant trading volume of over 35 million shares.
• The company has increased its quarterly dividend to $0.2183 per share, reflecting a rise from the previous dividend of $0.20 and equating to an annual yield of 0.9%.
• Recent institutional activity includes several new stakes in ProShares UltraPro QQQ, indicating increased interest from large investors.

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $93.87 and last traded at $93.80, with a volume of 35802156 shares. The stock had previously closed at $91.35.

ProShares UltraPro QQQ Stock Performance

The firm has a 50 day moving average of $83.83 and a 200-day moving average of $71.84. The stock has a market capitalization of $28.74 billion, a PE ratio of 38.25 and a beta of 3.45.

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 $0.2183 dividend. This represents a $0.87 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 25th. This is an increase from ProShares UltraPro QQQ's previous quarterly dividend of $0.20.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. HBW Advisory Services LLC increased its position in ProShares UltraPro QQQ by 3.2% in the 2nd quarter. HBW Advisory Services LLC now owns 4,542 shares of the exchange traded fund's stock worth $377,000 after purchasing an additional 139 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in ProShares UltraPro QQQ by 2.9% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,691 shares of the exchange traded fund's stock worth $326,000 after purchasing an additional 158 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in ProShares UltraPro QQQ by 2.5% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 7,984 shares of the exchange traded fund's stock worth $663,000 after purchasing an additional 198 shares during the last quarter. Family Capital Management Inc. increased its position in ProShares UltraPro QQQ by 5.0% in the 1st quarter. Family Capital Management Inc. now owns 4,428 shares of the exchange traded fund's stock worth $254,000 after purchasing an additional 210 shares during the last quarter. Finally, WMG Financial Advisors LLC increased its position in ProShares UltraPro QQQ by 5.3% in the 2nd quarter. WMG Financial Advisors LLC now owns 5,105 shares of the exchange traded fund's stock worth $424,000 after purchasing an additional 257 shares during 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.