ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Price Down 6.9% – Time to Sell?

ProShares UltraPro QQQ (NASDAQ:TQQQ) were down 6.9% on Monday . The stock traded as low as $42.79 and last traded at $42.05. Approximately 16,378,272 shares were traded during trading, a decline of 74% from the average daily volume of 63,014,149 shares. The stock had previously closed at $45.16.

ProShares UltraPro QQQ Stock Performance

The stock has a 50 day moving average of $61.90 and a two-hundred day moving average of $74.08. The firm has a market capitalization of $18.31 billion, a P/E ratio of 17.85 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TQQQ. World Investment Advisors LLC increased its stake in shares of ProShares UltraPro QQQ by 11.8% in the third quarter. World Investment Advisors LLC now owns 15,987 shares of the exchange traded fund’s stock worth $1,159,000 after purchasing an additional 1,684 shares during the period. Tidal Investments LLC bought a new position in ProShares UltraPro QQQ in the 3rd quarter worth approximately $11,598,000. Oriental Harbor Investment Fund bought a new stake in shares of ProShares UltraPro QQQ in the third quarter valued at approximately $82,199,000. JPMorgan Chase & Co. grew its stake in shares of ProShares UltraPro QQQ by 55.3% in the third quarter. JPMorgan Chase & Co. now owns 16,951 shares of the exchange traded fund’s stock worth $1,229,000 after acquiring an additional 6,039 shares during the last quarter. Finally, Silverleafe Capital Partners LLC increased its position in ProShares UltraPro QQQ by 48.6% during the fourth quarter. Silverleafe Capital Partners LLC now owns 5,200 shares of the exchange traded fund’s stock worth $412,000 after acquiring an additional 1,700 shares during the period.

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.