ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares gapped down prior to trading on Wednesday . The stock had previously closed at $58.62, but opened at $56.19. ProShares UltraPro QQQ shares last traded at $58.56, with a volume of 15,355,470 shares traded.

ProShares UltraPro QQQ Stock Performance

The firm has a market capitalization of $17.96 billion, a PE ratio of 26.02 and a beta of 3.45. The business’s 50 day moving average is $74.76 and its two-hundred day moving average is $76.95.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PayPay Securities Corp increased its holdings in shares of ProShares UltraPro QQQ by 119.3% in the fourth quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund’s stock worth $40,000 after purchasing an additional 272 shares during the period. Cary Street Partners Financial LLC bought a new position in ProShares UltraPro QQQ in the 4th quarter worth about $47,000. Clear Investment Research LLC boosted its position in shares of ProShares UltraPro QQQ by 83.3% during the 4th quarter. Clear Investment Research LLC now owns 1,054 shares of the exchange traded fund’s stock valued at $83,000 after acquiring an additional 479 shares during the last quarter. Beacon Capital Management LLC bought a new position in shares of ProShares UltraPro QQQ in the fourth quarter worth approximately $109,000. Finally, Menard Financial Group LLC purchased a new stake in ProShares UltraPro QQQ in the fourth quarter valued at approximately $146,000.

About ProShares UltraPro QQQ

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.