ProShares UltraPro QQQ (NASDAQ:TQQQ) Hits New 12-Month High – Should You Buy?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $80.82 and last traded at $80.22, with a volume of 11080666 shares. The stock had previously closed at $77.84.

ProShares UltraPro QQQ Stock Down 0.3%

The stock’s 50-day moving average price is $59.01 and its 200-day moving average price is $54.69. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 38.25 and a beta of 3.66.

Hedge Funds Weigh In On ProShares UltraPro QQQ

A number of large investors have recently modified their holdings of TQQQ. WFA of San Diego LLC bought a new stake in shares of ProShares UltraPro QQQ during the second quarter worth approximately $25,000. CoreCap Advisors LLC raised its stake in shares of ProShares UltraPro QQQ by 69.8% during the fourth quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund’s stock worth $31,000 after buying an additional 240 shares during the last quarter. BOKF NA bought a new stake in shares of ProShares UltraPro QQQ during the third quarter worth approximately $31,000. Rothschild Investment LLC raised its stake in shares of ProShares UltraPro QQQ by 100.0% during the fourth quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund’s stock worth $37,000 after buying an additional 350 shares during the last quarter. Finally, Dogwood Wealth Management LLC bought a new stake in shares of ProShares UltraPro QQQ during the fourth quarter worth approximately $44,000.

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.