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

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped up before the market opened on Monday . The stock had previously closed at $62.18, but opened at $65.06. ProShares UltraPro QQQ shares last traded at $65.65, with a volume of 13,178,560 shares changing hands.

ProShares UltraPro QQQ Price Performance

The stock has a market cap of $20.28 billion, a P/E ratio of 26.02 and a beta of 3.45. The company has a fifty day moving average price of $77.37 and a 200 day moving average price of $76.98.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently modified their holdings of the company. SVB Wealth LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter worth $791,000. Chung Wu Investment Group LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter worth $983,000. Drive Wealth Management LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter worth $1,108,000. Oriental Harbor Investment Fund purchased a new position in ProShares UltraPro QQQ in the third quarter worth $82,199,000. Finally, HighTower Advisors LLC boosted its position in ProShares UltraPro QQQ by 121.2% in the third quarter. HighTower Advisors LLC now owns 12,389 shares of the exchange traded fund’s stock worth $896,000 after purchasing 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.