Sovereign Financial Group Inc. Has $610,000 Holdings in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Sovereign Financial Group Inc. cut its holdings in shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,917 shares of the exchange traded fund’s stock after selling 3,516 shares during the period. Sovereign Financial Group Inc.’s holdings in ProShares UltraPro QQQ were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TQQQ. IMC Chicago LLC raised its stake in ProShares UltraPro QQQ by 1,635.6% in the fourth quarter. IMC Chicago LLC now owns 9,191,741 shares of the exchange traded fund’s stock valued at $466,021,000 after purchasing an additional 8,662,153 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in ProShares UltraPro QQQ during the fourth quarter worth $24,056,000. Howard Capital Management Inc. acquired a new position in shares of ProShares UltraPro QQQ in the 4th quarter valued at about $17,511,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of ProShares UltraPro QQQ in the 4th quarter valued at $7,033,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of ProShares UltraPro QQQ during the fourth quarter valued at about $5,574,000.

ProShares UltraPro QQQ Price Performance

NASDAQ TQQQ opened at $75.00 on Friday. ProShares UltraPro QQQ has a 12-month low of $30.47 and a 12-month high of $77.72. The company has a fifty day simple moving average of $63.87 and a 200 day simple moving average of $58.65.

ProShares UltraPro QQQ Increases Dividend

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

ProShares UltraPro QQQ 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.