ProShares UltraPro QQQ (NASDAQ:TQQQ) Hits New 12-Month High - What's Next?

Key Points

• ProShares UltraPro QQQ (TQQQ) hit a new 52-week high — it traded as high as $67.77 and last at $67.39 on heavy volume of about 51.4 million shares (previous close $64.91).
• TQQQ is a 3x leveraged ETF seeking 300% of the NASDAQ-100's daily performance and shows high volatility (beta 3.66) with a market cap of $33.23 billion, PE ratio 38.25, 50-day MA $50.22 and 200-day MA $52.35.
• Several institutional investors made small purchases or raised positions in recent quarters, indicating modest inflows from advisors and wealth managers.

ProShares UltraPro QQQ (NASDAQ:TQQQ - )'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $67.77 and last traded at $67.39, with a volume of 51422854 shares traded. The stock had previously closed at $64.91.

ProShares UltraPro QQQ Stock Performance

The stock has a market capitalization of $33.23 billion, a PE ratio of 38.25 and a beta of 3.66. The stock has a 50-day moving average price of $50.22 and a two-hundred day moving average price of $52.35.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. WFA of San Diego LLC purchased a new position in shares of ProShares UltraPro QQQ during the 2nd quarter valued at about $25,000. BOKF NA purchased a new position in shares of ProShares UltraPro QQQ during the 3rd quarter valued at about $31,000. CoreCap Advisors LLC lifted its position in shares of ProShares UltraPro QQQ by 69.8% during the 4th quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund's stock valued at $31,000 after buying an additional 240 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of ProShares UltraPro QQQ by 100.0% during the 4th quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund's stock valued at $37,000 after buying an additional 350 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of ProShares UltraPro QQQ by 100.0% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 828 shares of the exchange traded fund's stock valued at $44,000 after buying an additional 414 shares in 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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.

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