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

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped up before the market opened on Monday . The stock had previously closed at $48.58, but opened at $51.90. ProShares UltraPro QQQ shares last traded at $50.43, with a volume of 36,667,324 shares trading hands.

ProShares UltraPro QQQ Price Performance

The firm’s fifty day moving average is $66.00 and its two-hundred day moving average is $74.99. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid 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 1.59%.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of institutional investors have recently added to or reduced their stakes in TQQQ. SVB Wealth LLC acquired a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at $791,000. Chung Wu Investment Group LLC acquired a new position in shares of ProShares UltraPro QQQ in the 4th quarter worth approximately $983,000. LPL Financial LLC grew its stake in shares of ProShares UltraPro QQQ by 15.5% in the 4th quarter. LPL Financial LLC now owns 71,975 shares of the exchange traded fund’s stock worth $5,695,000 after purchasing an additional 9,684 shares during the last quarter. Drive Wealth Management LLC bought a new stake in shares of ProShares UltraPro QQQ in the 4th quarter worth approximately $1,108,000. Finally, Oriental Harbor Investment Fund acquired a new stake in ProShares UltraPro QQQ during the third quarter valued at approximately $82,199,000.

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.