ProShares UltraPro QQQ (NASDAQ:TQQQ) Trading Up 9.5% - Should You Buy?

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) shot up 9.5% during trading on Tuesday . The company traded as high as $45.55 and last traded at $45.84. 65,847,613 shares were traded during trading, an increase of 4% from the average session volume of 63,412,552 shares. The stock had previously closed at $41.86.

ProShares UltraPro QQQ Trading Up 3.3 %

The stock's 50 day simple moving average is $59.59 and its 200 day simple moving average is $73.65. The stock has a market capitalization of $22.42 billion, a P/E ratio of 27.46 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company 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. The ex-dividend date was Wednesday, March 26th. This represents a $0.79 dividend on an annualized basis and a yield of 1.47%.

Institutional Trading of ProShares UltraPro QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the company. PayPay Securities Corp increased its holdings in shares of ProShares UltraPro QQQ by 119.3% in the 4th quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund's stock valued at $40,000 after acquiring an additional 272 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter valued at $47,000. Clear Investment Research LLC raised its holdings in shares of ProShares UltraPro QQQ by 83.3% during 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 during the period. Beacon Capital Management LLC bought a new position in shares of ProShares UltraPro QQQ in the 4th quarter worth about $109,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of ProShares UltraPro QQQ in the 1st quarter valued at about $94,000.

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.