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

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $49.79, but opened at $46.83. ProShares UltraPro QQQ shares last traded at $47.22, with a volume of 26,753,201 shares.

ProShares UltraPro QQQ Stock Performance

The firm's fifty day moving average price is $63.64 and its 200 day moving average price is $74.46. The firm has a market cap of $18.59 billion, a P/E ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a $0.1977 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.75%.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of hedge funds have recently made changes to their positions in TQQQ. PayPay Securities Corp lifted its position in shares of 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 last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of ProShares UltraPro QQQ during the fourth quarter worth $47,000. Clear Investment Research LLC increased its holdings in shares of 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 valued at $83,000 after purchasing an additional 479 shares during the period. Beacon Capital Management LLC purchased a new position in ProShares UltraPro QQQ during the 4th quarter worth approximately $109,000. Finally, Menard Financial Group LLC acquired a new position in ProShares UltraPro QQQ during the fourth quarter valued at $146,000.

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.