ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Down 5.8% – Here’s What Happened

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s stock price were down 5.8% during trading on Tuesday . The stock traded as low as $59.20 and last traded at $59.46. Approximately 39,078,623 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 55,894,546 shares. The stock had previously closed at $63.09.

ProShares UltraPro QQQ Price Performance

The company’s 50-day moving average price is $78.83 and its two-hundred day moving average price is $77.09. The company has a market capitalization of $18.36 billion, a P/E ratio of 30.83 and a beta of 3.45.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.2754 dividend. This is a boost from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of institutional investors have recently made changes to their positions in the company. Oriental Harbor Investment Fund acquired a new stake in ProShares UltraPro QQQ during the 3rd quarter worth approximately $82,199,000. PPSC Investment Service Corp lifted its holdings in shares of ProShares UltraPro QQQ by 17.5% during the fourth quarter. PPSC Investment Service Corp now owns 446,415 shares of the exchange traded fund’s stock worth $35,325,000 after buying an additional 66,582 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of ProShares UltraPro QQQ during the third quarter worth $21,747,000. Ridgepath Capital Management LLC boosted its position in shares of ProShares UltraPro QQQ by 21.0% in the fourth quarter. Ridgepath Capital Management LLC now owns 163,389 shares of the exchange traded fund’s stock valued at $12,929,000 after acquiring an additional 28,341 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of ProShares UltraPro QQQ in the third quarter valued at about $11,598,000.

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.