ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up - Should You Buy?

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $41.25, but opened at $45.39. ProShares UltraPro QQQ shares last traded at $46.10, with a volume of 38,328,904 shares changing hands.

ProShares UltraPro QQQ Stock Performance

The firm has a market capitalization of $19.89 billion, a PE ratio of 17.85 and a beta of 3.45. The stock's 50-day simple moving average is $67.43 and its 200-day simple moving average is $75.31.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro QQQ

Large investors have recently bought and sold shares of the company. Oriental Harbor Investment Fund purchased a new position in ProShares UltraPro QQQ during the third quarter valued at $82,199,000. PPSC Investment Service Corp boosted its stake in ProShares UltraPro QQQ by 17.5% during the fourth quarter. PPSC Investment Service Corp now owns 446,415 shares of the exchange traded fund's stock worth $35,325,000 after acquiring an additional 66,582 shares in the last quarter. Ridgepath Capital Management LLC grew its holdings in ProShares UltraPro QQQ by 21.0% in the fourth quarter. Ridgepath Capital Management LLC now owns 163,389 shares of the exchange traded fund's stock worth $12,929,000 after purchasing an additional 28,341 shares during the period. Tidal Investments LLC bought a new position in shares of ProShares UltraPro QQQ during the third quarter valued at approximately $11,598,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of ProShares UltraPro QQQ by 7.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 157,596 shares of the exchange traded fund's stock valued at $12,471,000 after purchasing an additional 10,284 shares during 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.