TB Alternative Assets Ltd. Makes New Investment in ProShares UltraPro QQQ (NASDAQ:TQQQ)

TB Alternative Assets Ltd. bought a new position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 462,387 shares of the exchange traded fund’s stock, valued at approximately $26,495,000. ProShares UltraPro QQQ comprises approximately 6.2% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 7th biggest position. TB Alternative Assets Ltd. owned approximately 0.11% of ProShares UltraPro QQQ at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in ProShares UltraPro QQQ during the 4th quarter worth $791,000. Raymond James Financial Inc. acquired a new stake in ProShares UltraPro QQQ during the 4th quarter worth $364,000. Chung Wu Investment Group LLC acquired a new stake in ProShares UltraPro QQQ during the 4th quarter worth $983,000. LPL Financial LLC boosted its stake in ProShares UltraPro QQQ by 15.5% during the 4th quarter. LPL Financial LLC now owns 71,975 shares of the exchange traded fund’s stock worth $5,695,000 after purchasing an additional 9,684 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in ProShares UltraPro QQQ during the 4th quarter worth $390,000.

ProShares UltraPro QQQ Stock Up 2.9%

Shares of TQQQ opened at $74.21 on Friday. ProShares UltraPro QQQ has a 52-week low of $35.00 and a 52-week high of $93.79. The firm’s fifty day moving average is $58.43 and its two-hundred day moving average is $71.56. The stock has a market cap of $28.74 billion, a PE ratio of 32.04 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a dividend of $0.1977 per share. The ex-dividend date was Wednesday, March 26th. This represents a $0.79 annualized dividend and a dividend yield of 1.07%.

About ProShares UltraPro QQQ

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.