Verus Capital Partners LLC Makes New Investment in ProShares UltraPro QQQ $TQQQ

Verus Capital Partners LLC bought a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) in the second quarter, HoldingsChannel.com reports. The firm bought 3,350 shares of the exchange traded fund’s stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TQQQ. Clarity Wealth Advisors LLC increased its position in ProShares UltraPro QQQ by 35.8% during the second quarter. Clarity Wealth Advisors LLC now owns 18,220 shares of the exchange traded fund’s stock valued at $1,512,000 after acquiring an additional 4,800 shares during the last quarter. Allworth Financial LP boosted its position in ProShares UltraPro QQQ by 335,475.0% in the second quarter. Allworth Financial LP now owns 26,846 shares of the exchange traded fund’s stock worth $2,228,000 after purchasing an additional 26,838 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of ProShares UltraPro QQQ during the 2nd quarter valued at about $904,000. AE Wealth Management LLC increased its position in shares of ProShares UltraPro QQQ by 38.2% during the 2nd quarter. AE Wealth Management LLC now owns 5,745 shares of the exchange traded fund’s stock valued at $477,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its stake in shares of ProShares UltraPro QQQ by 6,175.0% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 1,255 shares of the exchange traded fund’s stock worth $104,000 after purchasing an additional 1,235 shares during the period.

ProShares UltraPro QQQ Trading Down 0.2%

TQQQ opened at $111.55 on Thursday. The company’s 50 day moving average is $104.93 and its 200 day moving average is $87.97. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $121.37.

Shares of ProShares UltraPro QQQ are going to split before the market opens on Thursday, November 20th. The 2-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, November 19th.

ProShares UltraPro QQQ Cuts Dividend

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

ProShares UltraPro QQQ 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.