ProShares UltraPro QQQ (NASDAQ:TQQQ) Sets New 12-Month Low – Here’s Why

ProShares UltraPro QQQ (NASDAQ:TQQQ) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $42.02 and last traded at $44.92, with a volume of 93506496 shares. The stock had previously closed at $50.30.

ProShares UltraPro QQQ Price Performance

The business’s fifty day simple moving average is $72.53 and its 200 day simple moving average is $76.54. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 17.85 and a beta of 3.55.

ProShares UltraPro QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.1977 dividend. This represents a $0.79 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Hedge funds have recently bought and sold shares of the company. Hanseatic Management Services Inc. boosted its position in ProShares UltraPro QQQ by 2.9% in the fourth quarter. Hanseatic Management Services Inc. now owns 4,656 shares of the exchange traded fund’s stock worth $368,000 after purchasing an additional 132 shares during the last quarter. Capital Investment Advisory Services LLC grew its stake in ProShares UltraPro QQQ by 2.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 5,295 shares of the exchange traded fund’s stock valued at $419,000 after buying an additional 140 shares in the last quarter. Richmond Brothers Inc. grew its stake in ProShares UltraPro QQQ by 1.9% in the 4th quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund’s stock valued at $698,000 after buying an additional 163 shares in the last quarter. Erickson Financial Group LLC lifted its holdings in ProShares UltraPro QQQ by 3.0% during the 4th quarter. Erickson Financial Group LLC now owns 8,479 shares of the exchange traded fund’s stock worth $671,000 after purchasing an additional 250 shares in the last quarter. Finally, PayPay Securities Corp boosted its stake in ProShares UltraPro QQQ by 119.3% during the fourth quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund’s stock valued at $40,000 after buying an additional 272 shares during the period.

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.