ProShares UltraPro QQQ (NASDAQ:TQQQ) Sets New 52-Week High – Time to Buy?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $88.62 and last traded at $88.51, with a volume of 13979027 shares. The stock had previously closed at $84.76.

ProShares UltraPro QQQ Price Performance

The business has a fifty day moving average of $76.98 and a 200-day moving average of $71.91.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.2302 per share. This is a positive change from ProShares UltraPro QQQ’s previous dividend of $0.22. The ex-dividend date was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC boosted its stake in ProShares UltraPro QQQ by 8.8% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 210,376 shares of the exchange traded fund’s stock valued at $15,250,000 after purchasing an additional 17,017 shares in the last quarter. IMC Chicago LLC boosted its stake in ProShares UltraPro QQQ by 1,145.4% during the 3rd quarter. IMC Chicago LLC now owns 560,847 shares of the exchange traded fund’s stock valued at $40,656,000 after purchasing an additional 515,815 shares in the last quarter. Howard Capital Management Inc. boosted its stake in ProShares UltraPro QQQ by 7.1% during the 2nd quarter. Howard Capital Management Inc. now owns 378,154 shares of the exchange traded fund’s stock valued at $27,929,000 after purchasing an additional 25,087 shares in the last quarter. Primoris Wealth Advisors LLC bought a new position in ProShares UltraPro QQQ during the 2nd quarter valued at $696,000. Finally, Cerity Partners LLC boosted its stake in ProShares UltraPro QQQ by 30.5% during the 3rd quarter. Cerity Partners LLC now owns 29,339 shares of the exchange traded fund’s stock valued at $2,127,000 after purchasing an additional 6,857 shares in the last quarter.

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.