ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Price Down 6.9% – Here’s What Happened

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s share price were down 6.9% during mid-day trading on Monday . The stock traded as low as $42.79 and last traded at $42.05. Approximately 16,378,272 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 63,014,149 shares. The stock had previously closed at $45.16.

ProShares UltraPro QQQ Stock Down 8.2 %

The stock’s 50-day moving average is $63.64 and its 200-day moving average is $74.49. The firm has a market cap of $17.09 billion, a P/E ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a dividend of $0.1977 per share. This represents a $0.79 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hanseatic Management Services Inc. raised its stake in shares of ProShares UltraPro QQQ by 2.9% in the 4th quarter. Hanseatic Management Services Inc. now owns 4,656 shares of the exchange traded fund’s stock valued at $368,000 after buying an additional 132 shares in the last quarter. Capital Investment Advisory Services LLC raised its position in ProShares UltraPro QQQ by 2.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 5,295 shares of the exchange traded fund’s stock worth $419,000 after purchasing an additional 140 shares in the last quarter. Richmond Brothers Inc. lifted its stake in ProShares UltraPro QQQ by 1.9% during the fourth quarter. Richmond Brothers Inc. now owns 8,817 shares of the exchange traded fund’s stock worth $698,000 after purchasing an additional 163 shares during the period. Erickson Financial Group LLC grew its stake in shares of ProShares UltraPro QQQ by 3.0% in the 4th quarter. Erickson Financial Group LLC now owns 8,479 shares of the exchange traded fund’s stock valued at $671,000 after purchasing an additional 250 shares during the period. Finally, PayPay Securities Corp raised its holdings in shares of ProShares UltraPro QQQ by 119.3% in the 4th quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund’s stock worth $40,000 after buying an additional 272 shares in the last quarter.

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.