ProShares UltraPro QQQ (TQQQ) Trading Down 6.5%

ProShares UltraPro QQQ (NASDAQ:TQQQ) dropped 6.5% during mid-day trading on Friday . The company traded as low as $55.54 and last traded at $55.75. Approximately 33,435,246 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 19,423,059 shares. The stock had previously closed at $59.65.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Thursday, March 21st will be issued a dividend of $0.0203 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Wednesday, March 20th.

Several institutional investors and hedge funds have recently modified their holdings of TQQQ. Laurel Wealth Advisors LLC acquired a new position in shares of ProShares UltraPro QQQ in the 4th quarter valued at $30,000. Bank of America Corp DE raised its stake in shares of ProShares UltraPro QQQ by 21.3% in the 4th quarter. Bank of America Corp DE now owns 3,249 shares of the exchange traded fund’s stock valued at $120,000 after acquiring an additional 570 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of ProShares UltraPro QQQ by 46.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,541 shares of the exchange traded fund’s stock valued at $242,000 after acquiring an additional 2,060 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of ProShares UltraPro QQQ in the 3rd quarter valued at approximately $285,000. Finally, Toth Financial Advisory Corp raised its stake in shares of ProShares UltraPro QQQ by 30.3% in the 4th quarter. Toth Financial Advisory Corp now owns 9,157 shares of the exchange traded fund’s stock valued at $339,000 after acquiring an additional 2,131 shares in the last quarter.

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ProShares UltraPro QQQ Company Profile (NASDAQ:TQQQ)

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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