ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up to $65.62

ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped up prior to trading on Thursday . The stock had previously closed at $65.62, but opened at $70.30. ProShares UltraPro QQQ shares last traded at $70.14, with a volume of 11,607,167 shares changing hands.

ProShares UltraPro QQQ Price Performance

The stock has a fifty day simple moving average of $66.47 and a two-hundred day simple moving average of $64.82.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 26th were given a $0.2828 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, June 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Turim 21 Investimentos Ltda. increased its stake in shares of ProShares UltraPro QQQ by 98.5% in the second quarter. Turim 21 Investimentos Ltda. now owns 665 shares of the exchange traded fund’s stock valued at $49,000 after purchasing an additional 330 shares during the period. DRW Securities LLC increased its position in ProShares UltraPro QQQ by 1,607.2% in the 2nd quarter. DRW Securities LLC now owns 61,580 shares of the exchange traded fund’s stock valued at $4,577,000 after acquiring an additional 57,973 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in ProShares UltraPro QQQ in the 2nd quarter valued at approximately $731,000. AE Wealth Management LLC raised its stake in ProShares UltraPro QQQ by 289.9% during the 2nd quarter. AE Wealth Management LLC now owns 16,019 shares of the exchange traded fund’s stock valued at $1,183,000 after acquiring an additional 11,911 shares in the last quarter. Finally, Richmond Brothers Inc. boosted its position in ProShares UltraPro QQQ by 31.4% during the 2nd quarter. Richmond Brothers Inc. now owns 7,373 shares of the exchange traded fund’s stock worth $544,000 after acquiring an additional 1,760 shares during the period.

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.