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

ProShares UltraPro QQQ (NASDAQ:TQQQ)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $80.82 and last traded at $80.22, with a volume of 11080666 shares changing hands. The stock had previously closed at $77.84.

ProShares UltraPro QQQ Price Performance

The company has a 50-day moving average price of $57.60 and a 200 day moving average price of $54.31. The firm has a market capitalization of $40.07 billion, a PE ratio of 38.25 and a beta of 3.66.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several large investors have recently made changes to their positions in TQQQ. WFA of San Diego LLC purchased a new position in shares of ProShares UltraPro QQQ in the second quarter valued at about $25,000. CoreCap Advisors LLC lifted its position in shares of ProShares UltraPro QQQ by 69.8% in the fourth quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund’s stock valued at $31,000 after acquiring an additional 240 shares in the last quarter. BOKF NA purchased a new position in shares of ProShares UltraPro QQQ in the third quarter valued at about $31,000. Rothschild Investment LLC lifted its position in shares of ProShares UltraPro QQQ by 100.0% in the fourth quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, Dogwood Wealth Management LLC purchased a new position in shares of ProShares UltraPro QQQ in the fourth quarter valued at about $44,000.

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.