TQQQ Stock Summary and Trading Ideas (ProShares Ultrapro QQQ | NASDAQ:TQQQ)

ProShares UltraPro QQQ seeks daily investment results before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index .

ProShares Ultrapro QQQ trades on the NASDAQ stock market under the symbol TQQQ.

As of September 27, 2024, TQQQ stock price declined to $71.93 with 37,667,997 million shares trading.

TQQQ has a beta of 4.07, meaning it tends to be more sensitive to market movements. TQQQ has a correlation of 0.89 to the broad based SPY ETF.

TQQQ has a market cap of $24.54 billion. This is considered a Large Cap stock.

In the last 3 years, TQQQ traded as high as $91.68 and as low as $16.10.

TQQQ has outperformed the market in the last year with a price return of +111.3% while the SPY ETF gained +35.8%. However, in the short term, TQQQ had mixed performance relative to the market. It has underperformed in the last 3 months, returning -3.1% vs +5.1% return in SPY. But in the last 2 weeks, TQQQ shares have fared better than the market returning +8.5% compared to SPY +2.5%.

TQQQ support price is $70.28 and resistance is $76.10 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TQQQ shares will trade within this expected range on the day.