Drive Wealth Management LLC Buys Shares of 14,000 ProShares UltraPro QQQ (NASDAQ:TQQQ)

Drive Wealth Management LLC bought a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,000 shares of the exchange traded fund’s stock, valued at approximately $1,108,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC lifted its stake in ProShares UltraPro QQQ by 8.8% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 210,376 shares of the exchange traded fund’s stock worth $15,250,000 after purchasing an additional 17,017 shares in the last quarter. Oriental Harbor Investment Fund purchased a new stake in shares of ProShares UltraPro QQQ in the 3rd quarter worth about $82,199,000. IMC Chicago LLC lifted its position in shares of ProShares UltraPro QQQ by 1,145.4% in the 3rd quarter. IMC Chicago LLC now owns 560,847 shares of the exchange traded fund’s stock worth $40,656,000 after purchasing an additional 515,815 shares during the period. HighTower Advisors LLC lifted its position in ProShares UltraPro QQQ by 121.2% during the 3rd quarter. HighTower Advisors LLC now owns 12,389 shares of the exchange traded fund’s stock valued at $896,000 after acquiring an additional 6,788 shares during the period. Finally, Cerity Partners LLC lifted its position in ProShares UltraPro QQQ by 30.5% during the 3rd quarter. Cerity Partners LLC now owns 29,339 shares of the exchange traded fund’s stock valued at $2,127,000 after acquiring an additional 6,857 shares during the period.

ProShares UltraPro QQQ Stock Performance

NASDAQ:TQQQ opened at $86.75 on Monday. ProShares UltraPro QQQ has a fifty-two week low of $48.80 and a fifty-two week high of $93.79. The firm has a 50-day simple moving average of $82.78 and a two-hundred day simple moving average of $74.48.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.2754 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.23.

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.