ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Price Down 5.8% – What’s Next?

ProShares UltraPro QQQ (NASDAQ:TQQQ) fell 5.8% on Tuesday . The company traded as low as $59.20 and last traded at $59.46. 39,078,623 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 55,894,546 shares. The stock had previously closed at $63.09.

ProShares UltraPro QQQ Stock Down 5.2 %

The firm has a market capitalization of $18.36 billion, a P/E ratio of 30.83 and a beta of 3.45. The firm has a 50 day moving average of $78.83 and a 200-day moving average of $77.09.

ProShares UltraPro QQQ Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TQQQ. RPg Family Wealth Advisory LLC bought a new stake in ProShares UltraPro QQQ during the third quarter worth about $32,000. PayPay Securities Corp raised its position in shares of ProShares UltraPro QQQ by 119.3% in the 4th quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund’s stock valued at $40,000 after buying an additional 272 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of ProShares UltraPro QQQ during the 4th quarter worth approximately $47,000. Clear Investment Research LLC boosted its position in shares of ProShares UltraPro QQQ by 83.3% during the 4th quarter. Clear Investment Research LLC now owns 1,054 shares of the exchange traded fund’s stock worth $83,000 after acquiring an additional 479 shares in the last quarter. Finally, Beacon Capital Management LLC bought a new position in ProShares UltraPro QQQ in the fourth quarter valued at approximately $109,000.

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.