Among the dynamic universe of ETFs scrutinized at ETF Channel, one standout performer recently has been the ProShares UltraPro QQQ (Symbol: TQQQ). Notably, an impressive $330.5 million dollar inflow has been detected, translating to a remarkable 1.6% surge in outstanding units week over week. This surge saw the outstanding units rise from 314,100,000 to 319,150,000.
Examining the top constituents of TQQQ, today marked a day of fluctuations. Alphabet Inc (Symbol: GOOG) exhibited a 1.7% decrease, while Netflix Inc (Symbol: NFLX) and Advanced Micro Devices Inc (Symbol: AMD) showed declines of 1.2% and 2.7%, respectively.
Performance and Comparative Analysis
The one-year price performance chart below illustrates the journey of TQQQ against its 200-day moving average:
A deeper dive into TQQQ’s 52-week range showcases a low point of $30.47 per share and a high of $85.20. This range is juxtaposed with the latest trade price of $63.80. Furthermore, comparing the most recent share price to the 200-day moving average is a valuable technical analysis tool for investors seeking insights.
ETFs and Investor Behavior
ETFs function akin to traditional stocks, whereby investors trade “units” instead of shares. These units can be traded back and forth like stocks, with the added flexibility of creation or destruction to meet investor demand. Tracking the week-over-week variations in shares outstanding data is pivotal to identify ETFs witnessing significant inflows (indicating creation of new units) or outflows (signifying destruction of existing units). Noteworthy inflows can lead to the acquisition or selling of underlying holdings, thereby influencing individual components housed within ETFs.
Click here to discover other ETFs with significant inflows »
Also of Interest:
Top Ten Hedge Funds Holding MCD
TQNT Historical Stock Prices
BUSE Split History