ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up – Should You Buy?

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $41.25, but opened at $45.39. ProShares UltraPro QQQ shares last traded at $46.10, with a volume of 38,328,904 shares.

ProShares UltraPro QQQ Trading Down 12.3 %

The company has a market cap of $15.80 billion, a PE ratio of 17.85 and a beta of 3.45. The firm has a 50 day moving average of $68.82 and a two-hundred day moving average of $75.64.

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 given a dividend of $0.1977 per share. The ex-dividend date was Wednesday, March 26th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.71%.

Institutional Inflows and Outflows

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

ProShares UltraPro QQQ Company Profile

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.