ProShares UltraPro QQQ Sees Significant Week-Over-Week Inflow

In a week marked by notable changes in ETF shares outstanding, the ProShares UltraPro QQQ (Symbol: TQQQ) has emerged as a significant player. This ETF experienced an approximate inflow of $480.8 million, reflecting a 3.4% increase in its outstanding units, which rose from 342,550,000 to 354,250,000. This uptick highlights strong investor interest.

Market Performance of Key Holdings

As of today’s trading, some of TQQQ’s largest underlying components have produced mixed results. Netflix Inc (Symbol: NFLX) reports a slight increase of about 0.1%. In contrast, Alphabet Inc (Symbol: GOOG) has decreased approximately 0.2%, and Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is down by about 0.6%. For a complete breakdown of TQQQ’s holdings, visit the TQQQ Holdings page.

Price Trends and Moving Averages

Looking at TQQQ’s one-year price performance, illustrated below, we can compare it to its 200-day moving average:

The chart reveals that TQQQ’s low point in the past year was $35 per share, while its peak reached $93.7892. Currently, the last trade shows a price of $41.63. Analyzing this price in relation to the 200-day moving average can provide valuable insights into market trends. You can learn more about this analysis technique here.

Understanding ETF Trading Mechanics

Exchange-traded funds (ETFs) function similarly to stocks; however, investors are buying and selling “units” instead of “shares.” These units can be traded back and forth like stocks but can also be created or destroyed based on investor demand. Tracking week-over-week changes in shares outstanding helps investors identify ETFs experiencing significant inflows (new units created) or outflows (existing units destroyed). The creation of new units typically requires the purchase of underlying holdings, while the destruction of units necessitates selling, which can also impact the individual stocks held within the ETF.

Click here to discover which 9 other ETFs have experienced notable inflows.

Also see:

• Cheapest Stocks Right Now
• Institutional Holders of CBMB
• Top Ten Hedge Funds Holding SHLL

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.