Sovereign Financial Group Inc. Raises Stock Holdings in ProShares UltraPro QQQ $TQQQ

Sovereign Financial Group Inc. lifted its holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,235 shares of the exchange traded fund’s stock after buying an additional 817 shares during the quarter. Sovereign Financial Group Inc.’s holdings in ProShares UltraPro QQQ were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TQQQ. Kingstone Capital Partners Texas LLC purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth approximately $395,951,000. IMC Chicago LLC raised its holdings in shares of ProShares UltraPro QQQ by 9,296.8% in the second quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund’s stock worth $96,953,000 after buying an additional 1,155,681 shares during the period. Jump Financial LLC purchased a new stake in shares of ProShares UltraPro QQQ in the first quarter worth approximately $53,458,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of ProShares UltraPro QQQ in the second quarter worth approximately $54,068,000. Finally, Goldman Sachs Group Inc. increased its holdings in ProShares UltraPro QQQ by 4,237.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund’s stock worth $29,821,000 after purchasing an additional 508,444 shares during the period.

ProShares UltraPro QQQ Stock Down 10.5%

TQQQ opened at $97.07 on Monday. The stock’s fifty day moving average is $95.88 and its two-hundred day moving average is $78.10. The company has a market capitalization of $25.71 billion, a P/E ratio of 38.25 and a beta of 3.45. ProShares UltraPro QQQ has a 52 week low of $35.00 and a 52 week high of $109.66.

ProShares UltraPro QQQ Cuts Dividend

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