October Effect Ltd Acquires Shares of 61,493 ProShares UltraPro QQQ $TQQQ

October Effect Ltd bought a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) during the fourth quarter, HoldingsChannel reports. The firm bought 61,493 shares of the exchange traded fund’s stock, valued at approximately $3,242,000. ProShares UltraPro QQQ makes up approximately 3.6% of October Effect Ltd’s holdings, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TQQQ. Cantor Fitzgerald L. P. increased its stake in shares of ProShares UltraPro QQQ by 823.5% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund’s stock worth $80,550,000 after acquiring an additional 694,661 shares in the last quarter. Citigroup Inc. boosted its stake in ProShares UltraPro QQQ by 3,108.0% during the third quarter. Citigroup Inc. now owns 601,603 shares of the exchange traded fund’s stock worth $62,206,000 after acquiring an additional 621,603 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in ProShares UltraPro QQQ by 4,237.0% during the first quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund’s stock worth $29,821,000 after acquiring an additional 508,444 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in ProShares UltraPro QQQ by 387.1% in the second quarter. Tower Research Capital LLC TRC now owns 198,910 shares of the exchange traded fund’s stock worth $16,510,000 after purchasing an additional 158,074 shares during the period. Finally, Vestia Personal Wealth Advisors grew its holdings in ProShares UltraPro QQQ by 208.9% in the third quarter. Vestia Personal Wealth Advisors now owns 154,444 shares of the exchange traded fund’s stock worth $154,000 after purchasing an additional 104,444 shares during the period.

ProShares UltraPro QQQ Stock Performance

Shares of NASDAQ TQQQ opened at $43.33 on Friday. ProShares UltraPro QQQ has a fifty-two week low of $17.50 and a fifty-two week high of $60.69. The company has a 50 day simple moving average of $48.37 and a two-hundred day simple moving average of $51.70. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were paid a $0.0716 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.29 annualized dividend and a dividend yield of 0.7%.

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.