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 Thursday . The stock had previously closed at $52.61, but opened at $48.68. ProShares UltraPro QQQ shares last traded at $47.47, with a volume of 57,689,876 shares trading hands.

ProShares UltraPro QQQ Trading Up 5.3 %

The firm has a 50 day moving average price of $67.43 and a 200 day moving average price of $75.31. The stock has a market capitalization of $19.89 billion, a PE ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a $0.1977 dividend. This represents a $0.79 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. StoneCrest Wealth Management Inc. increased its position in ProShares UltraPro QQQ by 7.6% in the first quarter. StoneCrest Wealth Management Inc. now owns 8,128 shares of the exchange traded fund’s stock worth $466,000 after purchasing an additional 577 shares during the last quarter. Charles Schwab Trust Co purchased a new position in shares of ProShares UltraPro QQQ in the 1st quarter worth $4,768,000. CPR Investments Inc. increased its holdings in shares of ProShares UltraPro QQQ by 12.0% in the 1st quarter. CPR Investments Inc. now owns 12,394 shares of the exchange traded fund’s stock worth $710,000 after buying an additional 1,328 shares during the last quarter. HBW Advisory Services LLC raised its position in shares of ProShares UltraPro QQQ by 42.6% during the 1st quarter. HBW Advisory Services LLC now owns 4,403 shares of the exchange traded fund’s stock valued at $252,000 after buying an additional 1,316 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of ProShares UltraPro QQQ by 18.6% in the 1st quarter. Merit Financial Group LLC now owns 5,063 shares of the exchange traded fund’s stock valued at $290,000 after acquiring an additional 795 shares during the last quarter.

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.