ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Should You Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s share price gapped down prior to trading on Monday . The stock had previously closed at $86.75, but opened at $77.58. ProShares UltraPro QQQ shares last traded at $80.48, with a volume of 32,728,719 shares changing hands.

ProShares UltraPro QQQ Trading Down 9.5 %

The firm has a fifty day simple moving average of $82.78 and a two-hundred day simple moving average of $74.48.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.2754 per share. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TQQQ. RPg Family Wealth Advisory LLC purchased a new position in shares of ProShares UltraPro QQQ in the third quarter worth about $32,000. Signaturefd LLC grew its stake in ProShares UltraPro QQQ by 153.8% in the 3rd quarter. Signaturefd LLC now owns 1,081 shares of the exchange traded fund’s stock valued at $78,000 after buying an additional 655 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in ProShares UltraPro QQQ by 235.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,541 shares of the exchange traded fund’s stock valued at $112,000 after acquiring an additional 1,082 shares during the period. James J. Burns & Company LLC bought a new stake in ProShares UltraPro QQQ during the 4th quarter valued at $206,000. Finally, Carnegie Investment Counsel bought a new position in shares of ProShares UltraPro QQQ in the fourth quarter worth $214,000.

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.