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

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares 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 company has a market cap of $18.28 billion, a P/E ratio of 30.83 and a beta of 3.45. The business has a fifty day moving average of $81.28 and a 200 day moving average of $77.42.

ProShares UltraPro QQQ Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TQQQ. Oriental Harbor Investment Fund bought a new position in ProShares UltraPro QQQ in the third quarter worth $82,199,000. BNP Paribas Financial Markets purchased a new stake in shares of ProShares UltraPro QQQ in the 3rd quarter worth about $21,747,000. Tidal Investments LLC bought a new position in shares of ProShares UltraPro QQQ in the 3rd quarter worth about $11,598,000. Paragon Advisors LLC lifted its position in ProShares UltraPro QQQ by 22.9% during the 3rd quarter. Paragon Advisors LLC now owns 741,671 shares of the exchange traded fund’s stock valued at $53,764,000 after acquiring an additional 138,343 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro QQQ during the fourth quarter worth about $9,970,000.

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.