ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Price Pass Below 200-Day Moving Average – What’s Next?

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $51.54 and traded as low as $47.18. ProShares UltraPro QQQ shares last traded at $48.47, with a volume of 122,818,306 shares changing hands.

ProShares UltraPro QQQ Stock Performance

The company has a market capitalization of $25.95 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. The firm’s 50-day simple moving average is $53.22 and its 200-day simple moving average is $51.59.

ProShares UltraPro QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a dividend of $0.0855 per share. This represents a $0.34 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 24th. This is a boost from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05.

Institutional Trading of ProShares UltraPro QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC grew its holdings in shares of ProShares UltraPro QQQ by 33.7% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 45,931 shares of the exchange traded fund’s stock worth $3,812,000 after purchasing an additional 11,582 shares during the last quarter. Howard Capital Management Inc. increased its position in ProShares UltraPro QQQ by 1,071.0% in the 2nd quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund’s stock valued at $404,067,000 after acquiring an additional 4,440,578 shares in the last quarter. Clarity Wealth Advisors LLC raised its position in ProShares UltraPro QQQ by 35.8% in the 2nd quarter. Clarity Wealth Advisors LLC now owns 18,220 shares of the exchange traded fund’s stock worth $1,512,000 after purchasing an additional 4,800 shares during the last quarter. Long Run Wealth Advisors LLC bought a new stake in shares of ProShares UltraPro QQQ during the second quarter worth $530,000. Finally, Janney Montgomery Scott LLC bought a new stake in ProShares UltraPro QQQ during the 2nd quarter worth about $208,000.

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.