Sherman Wealth Management LLC Makes New Investment in ProShares UltraPro QQQ $TQQQ

Sherman Wealth Management LLC purchased a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,668 shares of the exchange traded fund’s stock, valued at approximately $2,249,000. ProShares UltraPro QQQ comprises about 1.9% of Sherman Wealth Management LLC’s holdings, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of TQQQ. Paragon Advisors LLC grew its holdings in ProShares UltraPro QQQ by 104.6% in the fourth quarter. Paragon Advisors LLC now owns 146,543 shares of the exchange traded fund’s stock worth $7,726,000 after purchasing an additional 74,933 shares during the last quarter. MFG Wealth Management Inc. boosted its position in shares of ProShares UltraPro QQQ by 98.3% in the 4th quarter. MFG Wealth Management Inc. now owns 67,453 shares of the exchange traded fund’s stock worth $3,556,000 after purchasing an additional 33,442 shares in the last quarter. Diversified Trust Co. boosted its position in shares of ProShares UltraPro QQQ by 100.0% in the 4th quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund’s stock worth $5,799,000 after purchasing an additional 55,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in ProShares UltraPro QQQ by 101.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 135,309 shares of the exchange traded fund’s stock worth $7,443,000 after buying an additional 68,013 shares during the last quarter. Finally, Advyzon Investment Management LLC grew its stake in ProShares UltraPro QQQ by 145.6% during the 3rd quarter. Advyzon Investment Management LLC now owns 45,678 shares of the exchange traded fund’s stock worth $4,723,000 after buying an additional 27,081 shares during the last quarter.

ProShares UltraPro QQQ Price Performance

Shares of NASDAQ:TQQQ opened at $38.78 on Monday. The business’s 50-day moving average is $49.50 and its 200 day moving average is $51.98. ProShares UltraPro QQQ has a 1 year low of $17.50 and a 1 year high of $60.69. The firm has a market capitalization of $20.82 billion, a P/E ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.0716 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.29 annualized dividend and a dividend yield of 0.7%.

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