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

ProShares UltraPro QQQ (NASDAQ:TQQQ) 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 Stock Down 7.2 %

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

ProShares UltraPro QQQ Increases Dividend

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

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several hedge funds have recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC boosted its stake in ProShares UltraPro QQQ by 8.8% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 210,376 shares of the exchange traded fund’s stock worth $15,250,000 after acquiring an additional 17,017 shares during the last quarter. IMC Chicago LLC raised its stake 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 buying an additional 515,815 shares during the period. Howard Capital Management Inc. grew its stake in ProShares UltraPro QQQ by 7.1% in the second quarter. Howard Capital Management Inc. now owns 378,154 shares of the exchange traded fund’s stock valued at $27,929,000 after acquiring an additional 25,087 shares during the period. Primoris Wealth Advisors LLC bought a new stake in shares of ProShares UltraPro QQQ in the second quarter worth about $696,000. Finally, AE Wealth Management LLC raised its position in shares of ProShares UltraPro QQQ by 289.9% during the second quarter. AE Wealth Management LLC now owns 16,019 shares of the exchange traded fund’s stock worth $1,183,000 after purchasing an additional 11,911 shares during the period.

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.