ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Here’s Why

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Wednesday . The stock had previously closed at $32.26, but opened at $30.76. ProShares UltraPro Short QQQ shares last traded at $30.22, with a volume of 19,992,925 shares trading hands.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50 day moving average of $31.12 and a 200 day moving average of $37.25.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SQQQ. Peoples Bank KS bought a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $62,000. World Investment Advisors LLC boosted its holdings in ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after acquiring an additional 9,463 shares during the last quarter. Barclays PLC boosted its holdings in 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 acquiring an additional 124,500 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in ProShares UltraPro Short QQQ in the third quarter valued at approximately $1,848,000. Finally, RBF Capital LLC lifted its stake in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after buying an additional 1,166,014 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.