ProShares Ultra QQQ (NYSEARCA:QLD) Hits New 52-Week Low – Time to Sell?

ProShares Ultra QQQ (NYSEARCA:QLD) shares reached a new 52-week low during trading on Friday . The stock traded as low as $72.82 and last traded at $76.17, with a volume of 4213584 shares traded. The stock had previously closed at $81.80.

ProShares Ultra QQQ Trading Down 12.2 %

The company has a 50-day moving average price of $102.81 and a 200 day moving average price of $105.59. The stock has a market capitalization of $5.23 billion, a P/E ratio of 27.52 and a beta of 2.36.

ProShares Ultra QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a dividend of $0.0256 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Aptus Capital Advisors LLC acquired a new position in shares of ProShares Ultra QQQ during the fourth quarter worth $33,000. Compass Planning Associates Inc acquired a new position in ProShares Ultra QQQ during the 4th quarter valued at about $40,000. Financial Life Planners purchased a new stake in ProShares Ultra QQQ in the fourth quarter valued at about $51,000. Cape Investment Advisory Inc. acquired a new stake in ProShares Ultra QQQ in the fourth quarter worth about $54,000. Finally, IFP Advisors Inc boosted its holdings in ProShares Ultra QQQ by 226.1% in the fourth quarter. IFP Advisors Inc now owns 499 shares of the company’s stock worth $54,000 after acquiring an additional 346 shares in the last quarter.

ProShares Ultra QQQ Company Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.