Verus Capital Partners LLC Invests $278,000 in ProShares UltraPro QQQ $TQQQ

Verus Capital Partners LLC acquired a new stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,350 shares of the exchange traded fund’s stock, valued at approximately $278,000.

Several other hedge funds have also added to or reduced their stakes in TQQQ. Jump Financial LLC bought a new position in ProShares UltraPro QQQ in the 1st quarter worth about $53,458,000. Cassaday & Co Wealth Management LLC raised its holdings in ProShares UltraPro QQQ by 33.7% in the second quarter. Cassaday & Co Wealth Management LLC now owns 45,931 shares of the exchange traded fund’s stock worth $3,812,000 after buying an additional 11,582 shares during the last quarter. Cutler Investment Counsel LLC bought a new position in shares of ProShares UltraPro QQQ in the first quarter worth approximately $202,000. Howard Capital Management Inc. lifted its stake in shares of ProShares UltraPro QQQ by 1,071.0% in the second quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund’s stock worth $404,067,000 after buying an additional 4,440,578 shares in the last quarter. Finally, Financial Insights Inc. purchased a new stake in shares of ProShares UltraPro QQQ during the second quarter valued at approximately $213,000.

ProShares UltraPro QQQ Stock Down 0.2%

Shares of TQQQ opened at $111.55 on Thursday. ProShares UltraPro QQQ has a twelve month low of $35.00 and a twelve month high of $121.37. The company has a market capitalization of $29.25 billion, a P/E ratio of 38.25 and a beta of 3.46. The firm has a 50 day moving average of $104.93 and a 200 day moving average of $87.97.

ProShares UltraPro QQQ shares are going to split on Thursday, November 20th. The 2-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, November 19th.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were given a $0.0978 dividend. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%.

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.