Ridgepath Capital Management LLC Sells 58,783 Shares of ProShares UltraPro QQQ $TQQQ

Ridgepath Capital Management LLC reduced its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 36.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,606 shares of the exchange traded fund’s stock after selling 58,783 shares during the quarter. ProShares UltraPro QQQ accounts for about 2.9% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Ridgepath Capital Management LLC’s holdings in ProShares UltraPro QQQ were worth $5,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TQQQ. MRP Capital Investments LLC bought a new stake in ProShares UltraPro QQQ during the 1st quarter valued at about $29,000. Columbia River Financial Group LLC bought a new stake in ProShares UltraPro QQQ during the 1st quarter valued at about $47,000. Wolff Wiese Magana LLC bought a new stake in ProShares UltraPro QQQ during the 1st quarter valued at about $94,000. Beacon Capital Management LLC increased its stake in ProShares UltraPro QQQ by 32.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,823 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 450 shares in the last quarter. Finally, Canton Hathaway LLC bought a new stake in ProShares UltraPro QQQ during the 1st quarter valued at about $118,000.

ProShares UltraPro QQQ Stock Performance

NASDAQ:TQQQ opened at $95.57 on Friday. The firm has a market cap of $29.45 billion, a P/E ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a fifty-two week low of $35.00 and a fifty-two week high of $96.32. The firm has a 50-day simple moving average of $89.00 and a two-hundred day simple moving average of $72.60.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were paid a $0.2183 dividend. This is a boost from ProShares UltraPro QQQ’s previous quarterly dividend of $0.20. This represents a $0.87 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 25th.

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.