On May 12, 2023, reports surfaced that Prime Capital Investment Advisors LLC scaled back its stake in shares of ProShares UltraPro QQQ by 15.5% during the fourth quarter. According to its most recent disclosure with the Securities and Exchange Commission (SEC), Prime Capital Investment Advisors LLC owned 20,793 shares of the exchange traded fund’s stock after selling 3,806 shares during the quarter. The firm’s holdings in ProShares UltraPro QQQ were valued at $360,000 at the close of the reporting period.
ProShares UltraPro QQQ is a popular exchange-traded fund that aims to provide triple the daily returns of the Nasdaq-100 Index. To track this goal, special financial instruments known as derivatives are used to amplify gains and losses.
Investors who have bought into ProShares UltraPro QQQ can expect quarterly dividends from the company. Recently, on March 29th, 2023, ProShares UltraPro QQQ announced that it had increased its quarterly dividend from $0.10 to $0.15 per share for investors of record on Thursday, March 23rd. This represents an annualized dividend yield of 2.08%.
Undoubtedly, other hedge funds have also taken an interest in ProShares UltraPro QQQ– any investor who wants more information regarding TQQQ should visit HoldingsChannel.com to access data on the latest filings and insider trades surrounding this particular fund.
It is important for investors to keep abreast of these changes in ownership because they can signify financial changes within a company or signal an anticipation of upcoming price shifts in exchange traded funds- either way– knowing who owns what and when is always beneficial when making decisions about your money.
In conclusion – it seems as though there has been some movement within one particular hedge fund toward ProShares UltraPro QQQ recently; however, we will need to wait until next quarter’s SEC filing to see if this trend has continued or if other funds have caught on. Meanwhile, investors who have bought into this exchange-traded fund will appreciate the better-than-expected dividend yield of 2.08%. As always though, it is wise for investors to do their own research and keep an eye on the market for any significant shifts.
Hedge Funds Make Significant Changes to Positions in ProShares UltraPro QQQ ETF
In recent news, multiple hedge funds have made significant modifications to their positions in the ProShares UltraPro QQQ exchange-traded fund (ETF). Jane Street Group LLC notably increased its holdings by 104.5% during the second quarter, now owning 162,916 shares valued at $3,910,000 after acquiring an additional 3,819,585 shares. Simplex Trading LLC also lifted its stake by 141.0% in the third quarter, now holding 2,274,018 shares valued at $43,934,000 after acquiring an additional 1,330,372 shares.
Jump Financial LLC saw an impressive boost of 702.1% in their position during the third quarter as well. The company now owns 921,641 shares worth $17,806,000 after purchasing an additional 806,736 shares. Paragon Advisors LLC followed suit and grew its stake by 53.1% in the same quarter. After purchasing an additional 78503003 shares they now own a total of 2,263,273 shares with a total value of $43,7260 00.
Finally emerging on the scene is EHP Funds Inc., which acquired a new stake in ProShares UltraPro QQQ in the third quarter worth around $6.8 million.
The ETF opened at $28.79 on Thursday and has experienced fluctuating highs and lows over the past year ranging from $16.10 to $39.38. With its objective to attain daily investment results that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index), ProShares UltraPro QQQ invests primarily in equity securities such as derivatives—futures contracts and swap agreements—and money market instruments.
This movement among hedge funds is one that should be closely monitored as it could signal either confidence or caution regarding ProShares UltraPro QQQ’s performance and future prospects.
