Pinnacle Associates Ltd. Increases Stock Position in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Pinnacle Associates Ltd. raised its holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 12.0% during the third quarter, Holdings Channel.com reports. The firm owned 31,157 shares of the exchange traded fund’s stock after purchasing an additional 3,339 shares during the quarter. Pinnacle Associates Ltd.’s holdings in ProShares UltraPro QQQ were worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TQQQ. Diversify Advisory Services LLC purchased a new stake in shares of ProShares UltraPro QQQ during the 1st quarter worth approximately $528,000. Hollencrest Capital Management boosted its stake in shares of ProShares UltraPro QQQ by 1,797.9% during the 1st quarter. Hollencrest Capital Management now owns 2,657 shares of the exchange traded fund’s stock worth $164,000 after acquiring an additional 2,517 shares in the last quarter. Avidian Wealth Solutions LLC boosted its stake in shares of ProShares UltraPro QQQ by 10.7% during the 1st quarter. Avidian Wealth Solutions LLC now owns 177,959 shares of the exchange traded fund’s stock worth $10,955,000 after acquiring an additional 17,245 shares in the last quarter. VitalStone Financial LLC boosted its stake in shares of ProShares UltraPro QQQ by 130.2% during the 1st quarter. VitalStone Financial LLC now owns 4,494 shares of the exchange traded fund’s stock worth $277,000 after acquiring an additional 2,542 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of ProShares UltraPro QQQ during the 1st quarter worth approximately $560,000.

ProShares UltraPro QQQ Price Performance

Shares of NASDAQ:TQQQ opened at $70.93 on Friday. The business’s 50 day simple moving average is $69.87 and its 200-day simple moving average is $67.51. ProShares UltraPro QQQ has a 12 month low of $35.40 and a 12 month high of $85.20.

ProShares UltraPro QQQ Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were given a dividend of $0.2302 per share. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.22. The ex-dividend date of this dividend was Wednesday, September 25th.

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.