ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down - Should You Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $80.06, but opened at $77.27. ProShares UltraPro QQQ shares last traded at $76.92, with a volume of 8,282,632 shares.

ProShares UltraPro QQQ Trading Down 7.2 %

The firm's fifty day simple moving average is $72.62 and its two-hundred day simple moving average is $69.27.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were paid a $0.2302 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from ProShares UltraPro QQQ's previous dividend of $0.22.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in ProShares UltraPro QQQ by 444.5% during the 1st quarter. Jane Street Group LLC now owns 10,280,259 shares of the exchange traded fund's stock valued at $632,853,000 after purchasing an additional 8,392,312 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in shares of ProShares UltraPro QQQ by 433.9% in the first quarter. Flow Traders U.S. LLC now owns 1,532,199 shares of the exchange traded fund's stock worth $94,322,000 after buying an additional 1,245,229 shares during the period. IMC Chicago LLC lifted its stake in shares of ProShares UltraPro QQQ by 1,145.4% during the 3rd quarter. IMC Chicago LLC now owns 560,847 shares of the exchange traded fund's stock worth $40,656,000 after acquiring an additional 515,815 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in ProShares UltraPro QQQ during the 3rd quarter valued at $21,747,000. Finally, International Assets Investment Management LLC grew its position in ProShares UltraPro QQQ by 14,257.8% in the 3rd quarter. International Assets Investment Management LLC now owns 287,155 shares of the exchange traded fund's stock valued at $20,816,000 after acquiring an additional 285,155 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.