Paragon Advisors LLC Boosts Stake in ProShares UltraPro QQQ $TQQQ

Paragon Advisors LLC increased its stake in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 104.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,543 shares of the exchange traded fund’s stock after purchasing an additional 74,933 shares during the period. ProShares UltraPro QQQ makes up approximately 2.1% of Paragon Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Paragon Advisors LLC’s holdings in ProShares UltraPro QQQ were worth $7,726,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TQQQ. WFA of San Diego LLC bought a new position in ProShares UltraPro QQQ during the second quarter worth about $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter valued at about $30,000. BOKF NA acquired a new stake in shares of ProShares UltraPro QQQ in the 3rd quarter valued at approximately $31,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter valued at approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in ProShares UltraPro QQQ during the 3rd quarter worth approximately $44,000.

ProShares UltraPro QQQ Stock Performance

Shares of NASDAQ TQQQ opened at $44.39 on Thursday. ProShares UltraPro QQQ has a 52-week low of $17.50 and a 52-week high of $60.69. The stock has a market cap of $23.83 billion, a P/E ratio of 38.25 and a beta of 3.46. The firm has a 50 day moving average price of $50.07 and a 200 day moving average price of $52.04.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a $0.0716 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.29 annualized dividend and a dividend yield of 0.6%.

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.