ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – What’s Next?

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped down before the market opened on Friday . The stock had previously closed at $88.25, but opened at $86.37. ProShares UltraPro QQQ shares last traded at $84.70, with a volume of 8,804,056 shares.

ProShares UltraPro QQQ Stock Performance

The firm’s fifty day simple moving average is $80.69 and its 200 day simple moving average is $73.80.

ProShares UltraPro QQQ Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $0.2754 dividend. This is a boost from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date is Monday, December 23rd.

Institutional Trading of ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in ProShares UltraPro QQQ by 55.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,951 shares of the exchange traded fund’s stock valued at $1,229,000 after buying an additional 6,039 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of ProShares UltraPro QQQ in the third quarter valued at approximately $82,199,000. Tidal Investments LLC bought a new stake in shares of ProShares UltraPro QQQ in the third quarter worth $11,598,000. World Investment Advisors LLC grew its position in ProShares UltraPro QQQ by 11.8% in the third quarter. World Investment Advisors LLC now owns 15,987 shares of the exchange traded fund’s stock valued at $1,159,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Discipline Wealth Solutions LLC acquired a new stake in ProShares UltraPro QQQ in the 3rd quarter valued at $1,698,000.

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.