ProShares UltraPro QQQ (NASDAQ:TQQQ) Stock Price Cross Below 200 Day Moving Average – Here’s What Happened

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $65.44 and traded as low as $59.95. ProShares UltraPro QQQ shares last traded at $62.01, with a volume of 107,181,630 shares.

ProShares UltraPro QQQ Stock Down 10.5%

The firm has a market capitalization of $31.95 billion, a PE ratio of 38.25 and a beta of 3.71. The firm’s 50-day moving average price is $73.59 and its two-hundred day moving average price is $65.44.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several hedge funds have recently added to or reduced their stakes in TQQQ. PPSC Investment Service Corp boosted its position in shares of ProShares UltraPro QQQ by 5.8% during the 3rd quarter. PPSC Investment Service Corp now owns 1,497,357 shares of the exchange traded fund’s stock worth $116,839,000 after purchasing an additional 82,599 shares in the last quarter. Vestia Personal Wealth Advisors increased its holdings in shares of ProShares UltraPro QQQ by 100.7% in the 3rd quarter. Vestia Personal Wealth Advisors now owns 310,000 shares of the exchange traded fund’s stock worth $24,189,000 after buying an additional 155,556 shares during the last quarter. Independent Financial Group LLC bought a new stake in ProShares UltraPro QQQ in the 1st quarter worth approximately $12,430,000. Group One Trading LLC increased its holdings in shares of ProShares UltraPro QQQ by 5.9% in the first quarter. Group One Trading LLC now owns 295,031 shares of the exchange traded fund’s stock worth $12,297,000 after buying an additional 16,405 shares during the period. Finally, IMC Chicago LLC boosted its position in ProShares UltraPro QQQ by 290.6% during the 1st quarter. IMC Chicago LLC now owns 289,517 shares of the exchange traded fund’s stock valued at $12,067,000 after buying an additional 215,397 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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.