ProShares UltraPro QQQ (NASDAQ:TQQQ) Shares Gap Up – What’s Next?

Shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) gapped up before the market opened on Monday . The stock had previously closed at $62.18, but opened at $65.06. ProShares UltraPro QQQ shares last traded at $65.65, with a volume of 13,178,560 shares.

ProShares UltraPro QQQ Price Performance

The stock has a market cap of $20.67 billion, a P/E ratio of 26.02 and a beta of 3.45. The stock’s 50 day simple moving average is $77.00 and its two-hundred day simple moving average is $77.09.

Hedge Funds Weigh In On ProShares UltraPro QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TQQQ. SVB Wealth LLC bought a new stake in shares of ProShares UltraPro QQQ in the fourth quarter valued at about $791,000. Chung Wu Investment Group LLC bought a new stake in ProShares UltraPro QQQ in the 4th quarter valued at approximately $983,000. Drive Wealth Management LLC acquired a new position in ProShares UltraPro QQQ during the 4th quarter worth approximately $1,108,000. Oriental Harbor Investment Fund bought a new position in shares of ProShares UltraPro QQQ during the 3rd quarter worth approximately $82,199,000. Finally, HighTower Advisors LLC raised its holdings in shares of ProShares UltraPro QQQ by 121.2% in the third quarter. HighTower Advisors LLC now owns 12,389 shares of the exchange traded fund’s stock valued at $896,000 after purchasing an additional 6,788 shares during the last quarter.

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.