ProShares UltraPro QQQ (NASDAQ:TQQQ) Sets New 1-Year Low - Time to Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $42.02 and last traded at $44.92, with a volume of 93506496 shares changing hands. The stock had previously closed at $50.30.

ProShares UltraPro QQQ Stock Up 35.2 %

The firm's 50-day moving average price is $68.82 and its 200 day moving average price is $75.64. The company has a market capitalization of $18.01 billion, a P/E ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TQQQ. PayPay Securities Corp raised its stake in shares of ProShares UltraPro QQQ by 119.3% during the 4th quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund's stock worth $40,000 after purchasing an additional 272 shares during the period. Cary Street Partners Financial LLC purchased a new stake in ProShares UltraPro QQQ during the fourth quarter worth about $47,000. Clear Investment Research LLC raised its position 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 acquiring an additional 479 shares during the period. Beacon Capital Management LLC purchased a new position in ProShares UltraPro QQQ in the fourth quarter valued at about $109,000. Finally, Menard Financial Group LLC bought a new position in shares of ProShares UltraPro QQQ during the 4th quarter valued at approximately $146,000.

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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.