ProShares UltraPro QQQ (NASDAQ:TQQQ) Reaches New 52-Week 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 - ) shares reached a new 52-week high 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 Price Performance

The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45. The business's fifty day simple moving average is $82.15 and its 200 day simple moving average is $71.40.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were given a dividend of $0.2183 per share. 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. This represents a $0.87 dividend on an annualized basis and a dividend yield of 0.9%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TQQQ. Ameritas Advisory Services LLC bought a new stake in ProShares UltraPro QQQ during the 2nd quarter worth approximately $25,000. MRP Capital Investments LLC purchased a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $29,000. Keystone Financial Group Inc. purchased a new stake in ProShares UltraPro QQQ during the 2nd quarter valued at $48,000. Atlantic Union Bankshares Corp bought a new position in ProShares UltraPro QQQ in the 2nd quarter worth $47,000. Finally, Cary Street Partners Financial LLC bought a new position in ProShares UltraPro QQQ in the 4th quarter worth $47,000.

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.

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