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

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) 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 traded.

ProShares UltraPro QQQ Stock Up 6.6 %

The firm has a market capitalization of $18.93 billion, a price-to-earnings ratio of 30.83 and a beta of 3.45. The stock's fifty day moving average is $79.68 and its two-hundred day moving average is $77.03.

ProShares UltraPro QQQ Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.2754 dividend. This is an increase from ProShares UltraPro QQQ's previous dividend of $0.23. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hanseatic Management Services Inc. increased its holdings in shares of ProShares UltraPro QQQ by 2.9% in the fourth quarter. Hanseatic Management Services Inc. now owns 4,656 shares of the exchange traded fund's stock valued at $368,000 after purchasing an additional 132 shares during the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of ProShares UltraPro QQQ by 2.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 5,295 shares of the exchange traded fund's stock valued at $419,000 after purchasing an additional 140 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of ProShares UltraPro QQQ by 0.6% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,075 shares of the exchange traded fund's stock valued at $1,890,000 after purchasing an additional 158 shares during the last quarter. Richmond Brothers Inc. increased its holdings in shares of ProShares UltraPro QQQ by 1.9% in the fourth quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund's stock valued at $698,000 after purchasing an additional 163 shares during the last quarter. Finally, Erickson Financial Group LLC increased its holdings in shares of ProShares UltraPro QQQ by 3.0% in the fourth quarter. Erickson Financial Group LLC now owns 8,479 shares of the exchange traded fund's stock valued at $671,000 after purchasing an additional 250 shares during the last quarter.

About ProShares UltraPro QQQ

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.