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

Pinnacle Associates Ltd. raised its position in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. grew its stake in ProShares UltraPro QQQ by 98.5% during the 2nd quarter. Turim 21 Investimentos Ltda. now owns 665 shares of the exchange traded fund’s stock valued at $49,000 after purchasing an additional 330 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth about $68,000. Signaturefd LLC boosted its stake in shares of ProShares UltraPro QQQ by 153.8% in the third quarter. Signaturefd LLC now owns 1,081 shares of the exchange traded fund’s stock worth $78,000 after buying an additional 655 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth about $117,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth about $148,000.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ opened at $70.93 on Friday. ProShares UltraPro QQQ has a 52 week low of $35.40 and a 52 week high of $85.20. The stock’s 50-day moving average price is $69.87 and its 200-day moving average price is $67.51.

ProShares UltraPro QQQ Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were issued a $0.2302 dividend. This is a boost 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.