Churchill Management Acquires Major Stake in ProShares UltraPro QQQ

CHURCHILL MANAGEMENT Corp. acquired 138,722 shares of ProShares UltraPro QQQ (TQQQ) during Q4 2021, valued at approximately $7,033,000. Other institutional investors and hedge funds have also recently adjusted their positions in the company, with National Bank of Canada FI, Royal Bank of Canada, Impact Partnership Wealth LLC, FMR LLC, and BluePath Capital Management LLC all making notable additions or reductions to their holdings.

Churchill Management Acquires Significant Stake in ProShares UltraPro QQQ

In a recent filing with the Securities and Exchange Commission, Churchill Management Corp. disclosed its acquisition of a substantial stake in ProShares UltraPro QQQ (NASDAQ: TQQQ). The firm purchased 138,722 shares of the exchange-traded fund (ETF), representing a significant investment of approximately $7,033,000. This move reflects Churchill Management's bullish outlook on the technology sector and its belief in the growth potential of the ETF.

Other Institutional Investors and Hedge Funds Follow Suit

Churchill Management is not the only institutional investor to recently increase its exposure to ProShares UltraPro QQQ. National Bank of Canada FI boosted its stake by an impressive 9,910.0% during the third quarter, acquiring an additional 991 shares and now holding 1,001 shares worth approximately $37,000. Royal Bank of Canada also expanded its position, increasing its holdings by 79.1% in the second quarter, bringing its total ownership to 1,107 shares valued at $45,000.

Other notable additions include Impact Partnership Wealth LLC, which established a new position in ProShares UltraPro QQQ during the third quarter with an estimated value of $43,000. FMR LLC, known for its significant investment prowess, increased its stake by a staggering 41,566.7% in the same period, acquiring 1,247 additional shares and now owning 1,250 shares worth $45,000. BluePath Capital Management LLC also joined the ranks of investors with a new stake valued at approximately $47,000 in the third quarter.

ProShares UltraPro QQQ Performance and Dividend

ProShares UltraPro QQQ has witnessed positive price movements in recent trading sessions. On Friday, shares gained $0.13 during midday trading, reaching $62.63. Trading volume was robust, with 45,787,397 shares exchanged, exceeding the ETF's average volume of 75,032,578. The ETF has experienced a significant price range over the past year, with a one-year low of $24.29 and a one-year high of $64.13. Its 50-day moving average price currently stands at $57.89, while its 200-day moving average price is $47.45.

ProShares UltraPro QQQ recently announced a dividend distribution of $0.2151 per share, payable on Wednesday, March 27th. Investors of record on Thursday, March 21st will be eligible to receive the dividend. The ex-dividend date is Wednesday, March 20th.

About ProShares UltraPro QQQ

ProShares UltraPro QQQ ETF is designed to provide triple (300%) the daily performance of the NASDAQ-100 Index (the Index), before fees and expenses. The ETF primarily invests in equity securities, derivatives such as futures contracts and swap agreements, and money market instruments. The Index tracks the performance of 100 of the largest non-financial companies listed on the NASDAQ stock exchange.

Disclaimer

The information contained herein is for informational purposes only and should not be construed as investment advice. Investors should always conduct their own research and consult with a financial advisor before making any investment decisions.