Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $58.62, but opened at $56.19. ProShares UltraPro QQQ shares last traded at $58.56, with a volume of 15,355,470 shares changing hands.
ProShares UltraPro QQQ Trading Down 18.3 %
The firm has a market capitalization of $14.02 billion, a P/E ratio of 17.85 and a beta of 3.55. The stock has a 50 day simple moving average of $72.53 and a 200-day simple moving average of $76.47.
ProShares UltraPro QQQ Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a dividend of $0.1977 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.79 dividend on an annualized basis and a yield of 1.92%.
Institutional Investors Weigh In On ProShares UltraPro QQQ
Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 grew its stake in shares of ProShares UltraPro QQQ by 17.5% during the 4th quarter. PPSC Investment Service Corp now owns 446,415 shares of the exchange traded fund's stock valued at $35,325,000 after acquiring an additional 66,582 shares during the period. Ridgepath Capital Management LLC increased its holdings in ProShares UltraPro QQQ by 21.0% in the 4th quarter. Ridgepath Capital Management LLC now owns 163,389 shares of the exchange traded fund's stock worth $12,929,000 after acquiring an additional 28,341 shares in the last quarter. Tidal Investments LLC bought a new stake in ProShares UltraPro QQQ during the 3rd quarter worth approximately $11,598,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in 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 in the last quarter.
About ProShares UltraPro QQQ
(
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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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