ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Should You Sell?

by · The Markets Daily

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $31.10, but opened at $30.28. ProShares UltraPro Short QQQ shares last traded at $30.63, with a volume of 10,105,788 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day simple moving average of $33.26 and a 200 day simple moving average of $39.01.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.7475 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Institutional Trading of ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IMC Chicago LLC raised its holdings in ProShares UltraPro Short QQQ by 40.6% during the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock worth $28,638,000 after purchasing an additional 1,119,452 shares in the last quarter. RBF Capital LLC raised its stake in shares of ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after buying an additional 1,166,014 shares in the last quarter. Smithfield Trust Co raised its stake in shares of ProShares UltraPro Short QQQ by 138.8% during the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after buying an additional 444,000 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $1,848,000. Finally, Barclays PLC boosted its stake in shares of ProShares UltraPro Short QQQ by 157.8% in the third quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after buying an additional 124,500 shares in the last quarter.

About ProShares UltraPro Short QQQ

(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.

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