IMC Chicago LLC has made a notable investment by acquiring a stake in ProShares UltraPro QQQ (NASDAQ:TQQQ), as detailed in its recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,431 shares, amounting to approximately $712,000, during the first quarter of the year.
This investment comes amidst a broader trend in which several institutional investors have adjusted their positions in ProShares UltraPro QQQ. Notably, Richmond Brothers Inc. increased its shareholding by 1.9%, owning now 8,817 shares valued at about $698,000 after adding 163 shares. Similarly, Erickson Financial Group LLC raised its stake by 3%, now holding 8,479 shares worth approximately $671,000 after acquiring an additional 250 shares. PayPay Securities Corp made a significant move by boosting its investment by 119.3%, bringing its total to 500 shares valued at $40,000 following a purchase of 272 shares. Other notable investors, including Parallel Advisors LLC and Rathbones Group PLC, have also increased their stakes, further demonstrating the growing confidence in the ETF.
On the trading front, TQQQ experienced a decline of $2.86 on Friday, bringing its price to $72.83. The stock recorded a trading volume of over 105 million shares, surpassing its average of 69 million. The ETF shows a market cap of $28.20 billion, with a price-to-earnings ratio of 38.25.
Additionally, ProShares UltraPro QQQ recently declared a quarterly dividend of $0.1977, which was paid out to shareholders on April 1st. This dividend reflects an annualized total of $0.79, providing a yield of 1.09%.
ProShares UltraPro QQQ is designed to deliver three times the daily performance of the NASDAQ-100 Index, primarily investing in equity securities, derivatives, and money market instruments.
The consistent investment interest from institutional players highlights a positive sentiment surrounding the potential for growth in ProShares UltraPro QQQ, indicating that many investors believe in its future performance and alignment with market trends.