MFG Wealth Management Boosts ProShares UltraPro QQQ Stake by 98.3% MFG Wealth Management Inc. significantly increased its holdings in ProShares UltraPro QQQ (TQQQ) during the fourth quarter, raising its stake by 98.3% to 67,453 shares valued at $3,556,000. This positions the exchange-traded fund as the sixth-largest holding in the firm’s portfolio, accounting for 2.8% of its total assets. The investment marks a substantial addition to MFG’s holdings, reflecting confidence in the ETF’s performance despite recent market volatility. ProShares UltraPro QQQ, a triple-leveraged ETF designed to deliver 300% of the daily returns of the Nasdaq-100 Index, recently announced an increase in its quarterly dividend. The dividend was raised to $0.0855 per share, translating to an annualized yield of $0.34, up from the previous $0.05. The latest payment was distributed to shareholders of record as of December 24, with an ex-dividend date of the same day. This adjustment highlights the ETF’s commitment to rewarding investors, though the yield remains relatively modest compared to other market instruments. The ETF’s stock opened at $43 on Friday, a 5.9% decline from its previous close. This price movement places TQQQ within its 12-month trading range of $17.50 to $60.69. Analysts note that the fund’s high beta of 3.46 and a price-to-earnings ratio of 38.25 underscore its sensitivity to market fluctuations. Investors are advised to monitor moving averages, with the 50-day average at $50.73 and the 200-day average at $52.01, as potential indicators of short-term trends. Institutional activity around TQQQ has been notable in recent quarters. Several firms, including WFA of San Diego LLC, N.E.W.#mfg_wealth_management_inc #proshares_ultrapro_qqq #nasdaq_100_index #proshare_advisors_llc #wfa_of_san_diego_llc
