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

by · The Cerbat Gem

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $40.04, but opened at $37.25. ProShares UltraPro Short QQQ shares last traded at $36.8560, with a volume of 15,744,873 shares changing hands.

ProShares UltraPro Short QQQ Trading Down 9.4%

The company’s 50-day moving average is $50.17 and its two-hundred day moving average is $63.17.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $29,000. Parallel Advisors LLC lifted its holdings in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ during the third quarter valued at about $63,000. Finally, Sunbelt Securities Inc. purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $137,000.

ProShares UltraPro Short QQQ Company Profile

(Get Free Report)

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.

Read More