ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Here’s Why

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares gapped down before the market opened on Monday . The stock had previously closed at $86.75, but opened at $77.58. ProShares UltraPro QQQ shares last traded at $80.48, with a volume of 32,728,719 shares.

ProShares UltraPro QQQ Trading Down 9.5 %

The company has a fifty day moving average of $82.78 and a 200-day moving average of $74.48.

ProShares UltraPro QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.2754 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.23.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of institutional investors have recently added to or reduced their stakes in TQQQ. RPg Family Wealth Advisory LLC bought a new position in shares of ProShares UltraPro QQQ in the third quarter valued at approximately $32,000. Signaturefd LLC raised its stake in shares of ProShares UltraPro QQQ by 153.8% during the 3rd quarter. Signaturefd LLC now owns 1,081 shares of the exchange traded fund’s stock worth $78,000 after purchasing an additional 655 shares during the period. Farther Finance Advisors LLC raised its stake in shares of ProShares UltraPro QQQ by 235.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,541 shares of the exchange traded fund’s stock worth $112,000 after purchasing an additional 1,082 shares during the period. James J. Burns & Company LLC purchased a new position in shares of ProShares UltraPro QQQ in the 4th quarter worth about $206,000. Finally, Carnegie Investment Counsel bought a new position in ProShares UltraPro QQQ during the fourth quarter valued at about $214,000.

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.