Maridea Wealth Management LLC Invests $275,000 in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Maridea Wealth Management LLC purchased a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,475 shares of the exchange traded fund’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in shares of ProShares UltraPro QQQ by 30.5% in the third quarter. Cerity Partners LLC now owns 29,339 shares of the exchange traded fund’s stock worth $2,127,000 after acquiring an additional 6,857 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of ProShares UltraPro QQQ in the third quarter valued at approximately $21,747,000. HighTower Advisors LLC raised its position in ProShares UltraPro QQQ by 121.2% in the 3rd quarter. HighTower Advisors LLC now owns 12,389 shares of the exchange traded fund’s stock worth $896,000 after purchasing an additional 6,788 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in ProShares UltraPro QQQ by 15.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 147,312 shares of the exchange traded fund’s stock worth $10,679,000 after buying an additional 19,692 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in ProShares UltraPro QQQ in the 3rd quarter valued at $310,000.

ProShares UltraPro QQQ Stock Down 8.0 %

TQQQ stock opened at $57.34 on Friday. ProShares UltraPro QQQ has a twelve month low of $48.80 and a twelve month high of $93.79. The company has a market cap of $17.61 billion, a P/E ratio of 26.02 and a beta of 3.45. The business has a fifty day moving average of $75.80 and a 200-day moving average of $76.99.

ProShares UltraPro QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th will be issued a dividend of $0.1977 per share. The ex-dividend date is Wednesday, March 26th. This represents a $0.79 annualized dividend and a yield of 1.38%.

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.