ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 22,010,000 shares, a drop of 41.8% from the March 31st total of 37,820,000 shares. Approximately 5.3% of the company's shares are short sold. Based on an average daily volume of 103,716,500 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in TQQQ. PayPay Securities Corp increased its holdings in ProShares UltraPro QQQ by 119.3% during the fourth 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 during the period. Cary Street Partners Financial LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter valued at about $47,000. Columbia River Financial Group LLC purchased a new position in ProShares UltraPro QQQ in the first quarter valued at about $47,000. Clear Investment Research LLC raised its holdings in ProShares UltraPro QQQ by 83.3% in the fourth 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 in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of ProShares UltraPro QQQ during the first quarter valued at about $94,000.
ProShares UltraPro QQQ Price Performance
Shares of NASDAQ:TQQQ traded up $2.66 during trading on Friday, reaching $59.43. 97,199,136 shares of the company were exchanged, compared to its average volume of 64,845,380. The business's fifty day simple moving average is $56.75 and its 200-day simple moving average is $73.02. The firm has a market capitalization of $23.01 billion, a PE ratio of 27.46 and a beta of 3.45. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $93.79.
ProShares UltraPro QQQ Cuts Dividend
The firm also recently disclosed 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 1.33%. The ex-dividend date of this dividend was Wednesday, March 26th.
About ProShares UltraPro QQQ
(
Get Free Report)
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.
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