ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Time to Sell?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped down before the market opened on Monday . The stock had previously closed at $67.41, but opened at $64.00. ProShares UltraPro QQQ shares last traded at $61.85, with a volume of 30,282,000 shares trading hands.

ProShares UltraPro QQQ Stock Down 11.7 %

The firm has a fifty day moving average price of $81.28 and a two-hundred day moving average price of $77.42. The stock has a market capitalization of $18.28 billion, a P/E ratio of 30.83 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TQQQ. Hanseatic Management Services Inc. boosted its stake in shares of ProShares UltraPro QQQ by 2.9% in the 4th quarter. Hanseatic Management Services Inc. now owns 4,656 shares of the exchange traded fund’s stock worth $368,000 after buying an additional 132 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in ProShares UltraPro QQQ by 2.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 5,295 shares of the exchange traded fund’s stock valued at $419,000 after acquiring an additional 140 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in ProShares UltraPro QQQ by 0.6% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,075 shares of the exchange traded fund’s stock worth $1,890,000 after purchasing an additional 158 shares during the last quarter. Richmond Brothers Inc. grew its stake in shares of ProShares UltraPro QQQ by 1.9% during the 4th quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund’s stock valued at $698,000 after purchasing an additional 163 shares during the period. Finally, Erickson Financial Group LLC grew its stake in shares of 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 valued at $671,000 after purchasing an additional 250 shares during the period.

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.