Steele Capital Management Inc. Invests $213,000 in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Steele Capital Management Inc. bought a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,455 shares of the exchange traded fund’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of the stock. Sandy Spring Bank increased its holdings in ProShares UltraPro QQQ by 1,113.0% during the 4th quarter. Sandy Spring Bank now owns 558 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 512 shares in the last quarter. Signature Resources Capital Management LLC acquired a new stake in ProShares UltraPro QQQ during the 4th quarter valued at $29,000. Westend Capital Management LLC acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $48,000. Hazlett Burt & Watson Inc. acquired a new stake in ProShares UltraPro QQQ during the 4th quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in ProShares UltraPro QQQ during the 1st quarter valued at $63,000.

ProShares UltraPro QQQ Trading Up 1.6 %

TQQQ stock traded up $1.21 during midday trading on Monday, reaching $75.03. 43,097,714 shares of the company’s stock traded hands, compared to its average volume of 64,766,660. The company has a 50-day simple moving average of $64.84 and a two-hundred day simple moving average of $59.18. ProShares UltraPro QQQ has a 1-year low of $30.47 and a 1-year high of $77.72.

ProShares UltraPro QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th will be paid a $0.2828 dividend. This is a boost from ProShares UltraPro QQQ’s previous quarterly dividend of $0.22. This represents a $1.13 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, June 26th.

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.