ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up - Here's What Happened

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares experienced a significant gap up in trading on Friday. The stock closed the previous day at $79.23 but opened much higher at $83.69. As of the last trading session, ProShares UltraPro QQQ shares were trading at $82.73, with a notable trading volume of 14,640,790 shares.

ProShares UltraPro QQQ Price Performance

The stock's fifty-day moving average stands at $82.18, while its two-hundred-day moving average is at $74.34. These moving averages provide insight into the stock's recent performance and long-term trend.

ProShares UltraPro QQQ Increases Dividend

In a positive financial move, ProShares UltraPro QQQ recently announced an increase in its dividend. This dividend was paid on Tuesday, December 31st, to stockholders who were on record as of Monday, December 23rd. The amount distributed was $0.2754, an increase from the previous dividend of $0.23. The ex-dividend date was noted as Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro QQQ

The interest from institutional investors has been growing in ProShares UltraPro QQQ. Recently, several hedge funds have adjusted their holdings in the ETF. Notably, the Oriental Harbor Investment Fund acquired a new stake valued at approximately $82,199,000 in the third quarter. Further, IMC Chicago LLC significantly increased its position in ProShares UltraPro QQQ by 1,145.4%, currently owning 560,847 shares valued at about $40,656,000 after purchasing an additional 515,815 shares. BNP Paribas Financial Markets also bought a new stake worth $21,747,000. Another notable increase came from International Assets Investment Management LLC, which raised its shares by 14,257.8%, now holding 287,155 shares valued at around $20,816,000. Lastly, Tidal Investments LLC entered the market with a new position valued at $11,598,000.

About ProShares UltraPro QQQ

ProShares UltraPro QQQ ETF seeks to deliver three times (300%) the daily performance of the NASDAQ-100 Index before fees and expenses. This is achieved through investments in equity securities, derivatives like futures contracts, swap agreements, and money market instruments.

Should You Invest $1,000 in ProShares UltraPro QQQ Right Now?

Before making any investment decisions on ProShares UltraPro QQQ, it's essential for investors to consider current market analyses. Notably, MarketBeat identifies the most highly rated stocks recommended by top analysts. Currently, ProShares UltraPro QQQ has a "Hold" rating, and analysts suggest that there are five other stocks considered better options for investment.

ProShares, TQQQ, Dividend