Davies Financial Advisors Inc. Decreases Position in ProShares UltraPro QQQ $TQQQ

Davies Financial Advisors Inc. lessened its position in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 11.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,661 shares of the exchange traded fund’s stock after selling 1,031 shares during the period. Davies Financial Advisors Inc.’s holdings in ProShares UltraPro QQQ were worth $636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HBW Advisory Services LLC raised its holdings in ProShares UltraPro QQQ by 3.2% in the 2nd quarter. HBW Advisory Services LLC now owns 4,542 shares of the exchange traded fund’s stock worth $377,000 after acquiring an additional 139 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of ProShares UltraPro QQQ by 2.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 5,691 shares of the exchange traded fund’s stock worth $326,000 after purchasing an additional 158 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of ProShares UltraPro QQQ by 2.5% during the second quarter. Physician Wealth Advisors Inc. now owns 7,984 shares of the exchange traded fund’s stock valued at $663,000 after purchasing an additional 198 shares in the last quarter. WMG Financial Advisors LLC lifted its holdings in shares of ProShares UltraPro QQQ by 5.3% during the second quarter. WMG Financial Advisors LLC now owns 5,105 shares of the exchange traded fund’s stock valued at $424,000 after purchasing an additional 257 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its position in shares of ProShares UltraPro QQQ by 1.1% during the first quarter. Edgestream Partners L.P. now owns 26,419 shares of the exchange traded fund’s stock valued at $1,514,000 after buying an additional 285 shares during the last quarter.

ProShares UltraPro QQQ Stock Performance

NASDAQ TQQQ opened at $104.66 on Friday. ProShares UltraPro QQQ has a one year low of $35.00 and a one year high of $121.37. The stock has a 50-day moving average of $105.19 and a 200 day moving average of $88.08. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46.

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

ProShares UltraPro QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were issued a dividend of $0.0978 per share. This represents a $0.39 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 24th.

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.