ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 12-Month Low – Should You Sell?

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) reached a new 52-week low during trading on Friday . The company traded as low as $72.82 and last traded at $76.17, with a volume of 4213584 shares. The stock had previously closed at $81.80.

ProShares Ultra QQQ Stock Performance

The company has a market capitalization of $5.23 billion, a P/E ratio of 27.52 and a beta of 2.36. The firm’s fifty day moving average is $102.81 and its 200 day moving average is $105.59.

ProShares Ultra QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.0256 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QLD. Global View Capital Management LLC purchased a new position in shares of ProShares Ultra QQQ during the fourth quarter worth approximately $69,158,000. Dale Q Rice Investment Management Ltd purchased a new position in ProShares Ultra QQQ during the 4th quarter worth $24,535,000. Aveo Capital Partners LLC increased its holdings in ProShares Ultra QQQ by 5,229.3% during the 4th quarter. Aveo Capital Partners LLC now owns 143,197 shares of the company’s stock worth $15,500,000 after purchasing an additional 140,510 shares during the period. Ridgepath Capital Management LLC bought a new stake in ProShares Ultra QQQ during the 4th quarter valued at $10,787,000. Finally, Jump Financial LLC bought a new position in shares of ProShares Ultra QQQ during the 4th quarter worth $10,297,000.

About ProShares Ultra QQQ

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.