ProShares UltraPro QQQ (NASDAQ:TQQQ) Trading Down 13.8% – Time to Sell?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) traded down 13.8% during mid-day trading on Monday . The company traded as low as $35.00 and last traded at $35.40. 58,787,654 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 58,644,932 shares. The stock had previously closed at $41.09.

ProShares UltraPro QQQ Price Performance

The firm has a market capitalization of $14.12 billion, a P/E ratio of 17.85 and a beta of 3.45. The company’s 50-day simple moving average is $71.77 and its two-hundred day simple moving average is $76.41.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a dividend of $0.1977 per share. This represents a $0.79 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Institutional investors have recently made changes to their positions in the company. PayPay Securities Corp boosted its position in ProShares UltraPro QQQ by 119.3% during the fourth quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund’s stock valued at $40,000 after purchasing an additional 272 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at about $47,000. Clear Investment Research LLC raised its holdings in shares of ProShares UltraPro QQQ by 83.3% during the 4th quarter. Clear Investment Research LLC now owns 1,054 shares of the exchange traded fund’s stock worth $83,000 after acquiring an additional 479 shares during the period. Beacon Capital Management LLC acquired a new stake in ProShares UltraPro QQQ during the fourth quarter worth $109,000. Finally, Menard Financial Group LLC acquired a new stake in shares of ProShares UltraPro QQQ during the 4th quarter worth about $146,000.

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.