ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Should You Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $27.93, but opened at $30.92. ProShares UltraPro Short QQQ shares last traded at $29.97, with a volume of 32,461,360 shares traded.

ProShares UltraPro Short QQQ Trading Down 4.5 %

The company’s 50-day simple moving average is $30.37 and its 200 day simple moving average is $36.62.

ProShares UltraPro Short QQQ Increases Dividend

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

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 3rd quarter worth $548,000. Venture Visionary Partners LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth $144,000. Creative Planning boosted its holdings in ProShares UltraPro Short QQQ by 138.6% during the second quarter. Creative Planning now owns 46,219 shares of the company’s stock valued at $383,000 after acquiring an additional 26,845 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $29,000. Finally, SG Americas Securities LLC increased its stake in shares of ProShares UltraPro Short QQQ by 25.5% in the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after purchasing an additional 3,679 shares during the period.

ProShares UltraPro Short QQQ Company Profile

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.