Sowell Financial Services LLC Acquires New Stake in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Sowell Financial Services LLC acquired a new stake in ProShares UltraPro QQQ (NASDAQ:TQQQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,638 shares of the exchange traded fund’s stock, valued at approximately $1,475,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of ProShares UltraPro QQQ by 235.7% during the third quarter. Farther Finance Advisors LLC now owns 1,541 shares of the exchange traded fund’s stock worth $112,000 after acquiring an additional 1,082 shares during the last quarter. Axxcess Wealth Management LLC increased its position in ProShares UltraPro QQQ by 28.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,124 shares of the exchange traded fund’s stock valued at $951,000 after purchasing an additional 2,905 shares during the period. Main Street Financial Solutions LLC lifted its position in shares of ProShares UltraPro QQQ by 13.4% in the 3rd quarter. Main Street Financial Solutions LLC now owns 10,465 shares of the exchange traded fund’s stock worth $759,000 after purchasing an additional 1,240 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in shares of ProShares UltraPro QQQ by 0.6% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,075 shares of the exchange traded fund’s stock valued at $1,890,000 after purchasing an additional 158 shares during the last quarter. Finally, Paragon Advisors LLC increased its position in shares of ProShares UltraPro QQQ by 22.9% during the third quarter. Paragon Advisors LLC now owns 741,671 shares of the exchange traded fund’s stock worth $53,764,000 after buying an additional 138,343 shares during the period.

ProShares UltraPro QQQ Stock Down 11.3 %

Shares of NASDAQ TQQQ opened at $59.81 on Tuesday. The company has a market capitalization of $18.37 billion, a PE ratio of 30.83 and a beta of 3.45. The firm has a fifty day simple moving average of $81.28 and a 200 day simple moving average of $77.42. ProShares UltraPro QQQ has a twelve month low of $48.80 and a twelve month high of $93.79.

ProShares UltraPro QQQ Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.2754 dividend. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date was Monday, December 23rd.

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.