Balefire LLC significantly increased its investments in ProShares UltraPro QQQ (NASDAQ:TQQQ), according to its recent SEC Form 13F filing. The firm boosted its holdings by an impressive 95.7% in the first quarter, now owning 23,654 shares valued at approximately $1.36 million after purchasing an additional 11,565 shares during the period.
Alongside Balefire LLC, other large investors have also adjusted their positions in the fund. PMV Capital Advisers LLC saw a substantial 202.5% increase in its holdings, acquiring 10,817 shares worth $620,000. Additionally, Golden State Equity Partners raised its investment by 8.3%, bringing its total to 4,355 shares valued at $250,000. New positions were established by Global Assets Advisory LLC and Park Capital Management LLC, with stakes worth $469,000 and $381,000, respectively.
On the performance front, shares of ProShares UltraPro QQQ opened at $78.48 and have shown notable volatility over the past year, with a 52-week high of $93.79 and a low of $35.00. The fund, which aims to deliver triple the daily performance of the NASDAQ-100 Index, boasts a market cap of $30.39 billion and a PE ratio of 38.25.
Further underscoring its commitment to investors, ProShares UltraPro QQQ announced an increase in its quarterly dividend to $0.2183, a boost from the prior amount of $0.20. This dividend will be paid on July 1st to shareholders on record as of June 25th, translating to an annualized yield of 1.11%.
In a broader context, the recent investment activities and the dividend increase highlight confident market engagement in ProShares UltraPro QQQ, indicating potential growth opportunities for investors looking for exposure to the tech-heavy NASDAQ-100 Index.
Overall, as institutional confidence strengthens and dividends rise, ProShares UltraPro QQQ stands out as a notable player in the exchange-traded fund sector, which could appeal to investors seeking growth in a fluctuating market environment.