ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s share price gapped down prior to trading on Friday . The stock had previously closed at $80.06, but opened at $77.27. ProShares UltraPro QQQ shares last traded at $76.92, with a volume of 8,282,632 shares changing hands.

ProShares UltraPro QQQ Trading Down 7.2 %

The company’s 50-day moving average price is $72.62 and its 200-day moving average price is $69.39.

ProShares UltraPro QQQ Increases Dividend

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

Institutional Trading of ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently modified their holdings of the company. Avidian Wealth Enterprises LLC boosted its position in shares of ProShares UltraPro QQQ by 8.8% during the third quarter. Avidian Wealth Enterprises LLC now owns 210,376 shares of the exchange traded fund’s stock worth $15,250,000 after buying an additional 17,017 shares during the period. IMC Chicago LLC boosted its position 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 worth $40,656,000 after acquiring an additional 515,815 shares during the last quarter. Howard Capital Management Inc. boosted its position 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 worth $27,929,000 after acquiring an additional 25,087 shares during the last quarter. Primoris Wealth Advisors LLC bought a new position in shares of ProShares UltraPro QQQ during the 2nd quarter worth approximately $696,000. Finally, AE Wealth Management LLC raised its holdings in shares of ProShares UltraPro QQQ by 289.9% in the second quarter. AE Wealth Management LLC now owns 16,019 shares of the exchange traded fund’s stock valued at $1,183,000 after purchasing an additional 11,911 shares during 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.