ProShares UltraPro QQQ (NASDAQ:TQQQ) Reaches New 12-Month High – Here’s What Happened

ProShares UltraPro QQQ (NASDAQ:TQQQ) reached a new 52-week high on Friday . The company traded as high as $110.79 and last traded at $110.88, with a volume of 13312498 shares trading hands. The stock had previously closed at $107.22.

ProShares UltraPro QQQ Price Performance

The business’s 50-day moving average price is $98.66 and its two-hundred day moving average price is $81.78. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were paid a $0.0978 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its stake in ProShares UltraPro QQQ by 86.8% in the third quarter. Citizens Financial Group Inc. RI now owns 7,974 shares of the exchange traded fund’s stock valued at $824,000 after acquiring an additional 3,706 shares during the last quarter. First Merchants Corp bought a new stake in shares of ProShares UltraPro QQQ during the third quarter worth $1,034,000. Ironwood Financial llc bought a new stake in shares of ProShares UltraPro QQQ during the third quarter worth $355,000. Members Advisory Group LLC grew its stake in shares of ProShares UltraPro QQQ by 13.9% during the third quarter. Members Advisory Group LLC now owns 3,238 shares of the exchange traded fund’s stock worth $335,000 after buying an additional 395 shares during the last quarter. Finally, TriaGen Wealth Management LLC bought a new stake in shares of ProShares UltraPro QQQ during the third quarter worth $207,000.

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.