ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares to Split on Thursday, November 20th

Key Points

• 2‑for‑1 stock split set for the morning of Thursday, November 20th, with newly created shares payable to shareholders after the market closes on Wednesday, November 19th.
• ProShares UltraPro QQQ is a 3x leveraged ETF tracking the NASDAQ‑100 (seeks 300% of daily performance), trades with high volatility (beta 3.46), opened at $105.78 and has a 52‑week range of $35.00–$121.37 with a $27.74 billion market cap.
• The fund recently paid a small quarterly dividend of $0.0978 (annualized $0.39, yield ~0.4%) and has seen notable institutional activity, including Howard Capital Management increasing its stake by 1,071% to about 4,855,196 shares (~$404 million).

ProShares UltraPro QQQ (NASDAQ:TQQQ - )'s stock is set to split on the morning of Thursday, November 20th. The 2-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Wednesday, November 19th.

ProShares UltraPro QQQ Price Performance

Shares of TQQQ opened at $105.78 on Friday. The company's 50-day moving average is $103.52 and its 200-day moving average is $86.41. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $121.37. The firm has a market capitalization of $27.74 billion, a PE ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were paid a $0.0978 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $0.39 annualized dividend and a dividend yield of 0.4%.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of hedge funds have recently made changes to their positions in the business. Jump Financial LLC bought a new position in shares of ProShares UltraPro QQQ during the first quarter valued at approximately $53,458,000. Cassaday & Co Wealth Management LLC boosted its stake in shares of ProShares UltraPro QQQ by 33.7% in the second quarter. Cassaday & Co Wealth Management LLC now owns 45,931 shares of the exchange traded fund's stock worth $3,812,000 after acquiring an additional 11,582 shares during the period. Cutler Investment Counsel LLC purchased a new stake in shares of ProShares UltraPro QQQ in the first quarter worth about $202,000. Howard Capital Management Inc. raised its position in shares of ProShares UltraPro QQQ by 1,071.0% during the 2nd quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund's stock valued at $404,067,000 after buying an additional 4,440,578 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of ProShares UltraPro QQQ by 24.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 156,260 shares of the exchange traded fund's stock worth $8,954,000 after acquiring an additional 30,266 shares during the last quarter.

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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