ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Down – Here’s What Happened

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped down prior to trading 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 trading hands.

ProShares UltraPro QQQ Stock Performance

The company has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $73.80.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.2754 per share. This is a positive change from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date is Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Several hedge funds have recently bought and sold shares of TQQQ. Avidian Wealth Enterprises LLC lifted its position in shares of ProShares UltraPro QQQ by 8.8% in the third quarter. Avidian Wealth Enterprises LLC now owns 210,376 shares of the exchange traded fund’s stock valued at $15,250,000 after buying an additional 17,017 shares during the last quarter. Oriental Harbor Investment Fund bought a new position in ProShares UltraPro QQQ during the third quarter worth $82,199,000. IMC Chicago LLC increased its holdings in shares of ProShares UltraPro QQQ by 1,145.4% in the third quarter. IMC Chicago LLC now owns 560,847 shares of the exchange traded fund’s stock valued at $40,656,000 after purchasing an additional 515,815 shares during the last quarter. Howard Capital Management Inc. raised its position in shares of 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 purchasing an additional 25,087 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of ProShares UltraPro QQQ by 121.2% during the 3rd quarter. HighTower Advisors LLC now owns 12,389 shares of the exchange traded fund’s stock worth $896,000 after buying an additional 6,788 shares during 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.