ProShares UltraPro QQQ Sees $715 Million Inflow This Week
In recent data from ETF Channel, the ProShares UltraPro QQQ (Symbol: TQQQ) demonstrated noteworthy week-over-week changes in shares outstanding. The fund experienced an inflow of approximately $715.1 million, reflecting a 3.5% increase in outstanding units, rising from 331,850,000 to 343,350,000. Several significant underlying components of TQQQ are also performing well today: Broadcom Inc (Symbol: AVGO) is up about 1.9%, Costco Wholesale Corp (Symbol: COST) has increased by around 1.5%, and Tesla Inc (Symbol: TSLA) is experiencing a notable rise of approximately 10.2%. For additional details, refer to the TQQQ Holdings page.
The chart below illustrates TQQQ’s one-year price performance in relation to its 200-day moving average:
According to the chart, TQQQ’s 52-week low is $48.80 per share, while the high point stands at $93.7892. The latest trade price is $65.80. Analyzing the current share price compared to the 200-day moving average is a useful technical analysis technique. For more information, learn about the 200-day moving average.
Free report: Top 8%+ Dividends (paid monthly)
Exchange-traded funds (ETFs) operate like stocks; however, investors trade “units” rather than “shares.” These units can be bought and sold similarly to stocks but may also be created or destroyed to meet investor demand. Each week, we analyze week-over-week changes in shares outstanding, focusing on ETFs with significant inflows (indicating many new units are created) or outflows (indicating many old units are destroyed). The creation of new units necessitates the purchase of underlying holdings, while the destruction of units involves selling those holdings. Consequently, large inflows and outflows can impact individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows.
Also see:
- Low PE Ratios
- Institutional Holders of EG
- GRVY Videos
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
