ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up – Here’s Why

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped up before the market opened on Tuesday . The stock had previously closed at $41.25, but opened at $45.39. ProShares UltraPro QQQ shares last traded at $46.10, with a volume of 38,328,904 shares traded.

ProShares UltraPro QQQ Trading Up 7.4 %

The company has a market capitalization of $15.17 billion, a PE ratio of 17.85 and a beta of 3.45. The company has a fifty day simple moving average of $71.77 and a 200-day simple moving average of $76.41.

ProShares UltraPro QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several institutional investors and hedge funds have recently bought and sold shares of TQQQ. Oriental Harbor Investment Fund purchased a new stake in shares of ProShares UltraPro QQQ during the 3rd quarter valued at approximately $82,199,000. PPSC Investment Service Corp raised its position in ProShares UltraPro QQQ by 17.5% in the fourth quarter. PPSC Investment Service Corp now owns 446,415 shares of the exchange traded fund’s stock valued at $35,325,000 after purchasing an additional 66,582 shares during the period. Ridgepath Capital Management LLC raised its position in 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 purchasing an additional 28,341 shares during the period. Tidal Investments LLC acquired a new position in shares of ProShares UltraPro QQQ in the 3rd quarter valued at $11,598,000. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of ProShares UltraPro QQQ by 7.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 157,596 shares of the exchange traded fund’s stock worth $12,471,000 after purchasing an additional 10,284 shares during the period.

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.