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

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $68.29, but opened at $65.09. ProShares UltraPro QQQ shares last traded at $66.36, with a volume of 41,479,397 shares traded.

ProShares UltraPro QQQ Stock Performance

The firm has a market cap of $27.12 billion, a price-to-earnings ratio of 32.04 and a beta of 3.45. The business's 50-day moving average is $56.83 and its 200-day moving average is $71.96.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a dividend of $0.1977 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.79 dividend on an annualized basis and a yield of 1.13%.

Institutional Trading of ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently made changes to their positions in the business. PayPay Securities Corp increased its holdings in shares of ProShares UltraPro QQQ by 119.3% in the fourth quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund's stock valued at $40,000 after purchasing an additional 272 shares in the last quarter. MRP Capital Investments LLC acquired a new position in ProShares UltraPro QQQ in the first quarter valued at about $29,000. Cary Street Partners Financial LLC acquired a new position in shares of ProShares UltraPro QQQ in the 4th quarter valued at approximately $47,000. Columbia River Financial Group LLC acquired a new position in shares of ProShares UltraPro QQQ in the first quarter valued at approximately $47,000. Finally, Clear Investment Research LLC boosted its stake in ProShares UltraPro QQQ by 83.3% in the 4th quarter. Clear Investment Research LLC now owns 1,054 shares of the exchange traded fund's stock worth $83,000 after purchasing an additional 479 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.