ProShares UltraPro QQQ (NASDAQ:TQQQ) Sets New 12-Month High – Still a Buy?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) reached a new 52-week high during trading on Tuesday . The stock traded as high as $107.88 and last traded at $107.04, with a volume of 40941702 shares trading hands. The stock had previously closed at $104.70.

ProShares UltraPro QQQ Price Performance

The company’s 50-day simple moving average is $94.49 and its 200 day simple moving average is $76.97. The firm has a market cap of $28.63 billion, a P/E ratio of 38.25 and a beta of 3.45.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were given a dividend of $0.0978 per share. The ex-dividend date was Wednesday, September 24th. This represents a $0.39 annualized dividend and a yield of 0.4%.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several institutional investors have recently bought and sold shares of the business. PMV Capital Advisers LLC lifted its position in ProShares UltraPro QQQ by 4.0% during the third quarter. PMV Capital Advisers LLC now owns 15,794 shares of the exchange traded fund’s stock valued at $1,633,000 after purchasing an additional 612 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of ProShares UltraPro QQQ by 64.8% in the 2nd quarter. Corient Private Wealth LLC now owns 106,993 shares of the exchange traded fund’s stock worth $8,880,000 after acquiring an additional 42,058 shares during the last quarter. Alternative Investment Advisors LLC. bought a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter worth about $320,000. Osaic Holdings Inc. lifted its holdings in shares of ProShares UltraPro QQQ by 43.0% in the 2nd quarter. Osaic Holdings Inc. now owns 9,466 shares of the exchange traded fund’s stock worth $729,000 after acquiring an additional 2,848 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter worth about $225,000.

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.