ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Wednesday . The stock had previously closed at $38.80, but opened at $36.96. ProShares UltraPro Short QQQ shares last traded at $37.20, with a volume of 21,957,333 shares changing hands.

ProShares UltraPro Short QQQ Trading Up 5.5 %

The business’s 50-day moving average is $30.18 and its 200-day moving average is $33.67.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $2,374,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $439,000. Compagnie Lombard Odier SCmA grew its position in ProShares UltraPro Short QQQ by 3,357.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock valued at $517,000 after buying an additional 16,116 shares during the period. SBI Securities Co. Ltd. acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $423,000. Finally, Ridgepath Capital Management LLC grew its position in ProShares UltraPro Short QQQ by 761.2% during the fourth quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock valued at $3,218,000 after buying an additional 91,348 shares during the period.

About ProShares UltraPro Short QQQ

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market.