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

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped down before the market opened 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 trading hands.

ProShares UltraPro QQQ Stock Performance

The company has a market cap of $17.96 billion, a PE ratio of 26.02 and a beta of 3.45. The stock’s 50 day moving average price is $74.76 and its 200-day moving average price is $76.95.

ProShares UltraPro QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a dividend of $0.1977 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Institutional investors have recently added to or reduced their stakes in the company. PayPay Securities Corp increased 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 acquiring an additional 272 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of ProShares UltraPro QQQ in the fourth quarter worth $47,000. Clear Investment Research LLC lifted its holdings in shares of ProShares UltraPro QQQ by 83.3% during 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 in the last quarter. Beacon Capital Management LLC bought a new position in shares of ProShares UltraPro QQQ during the fourth quarter valued at $109,000. Finally, Menard Financial Group LLC purchased a new stake in shares of ProShares UltraPro QQQ during the fourth quarter valued at $146,000.

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.