ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $76.96, but opened at $79.02. ProShares UltraPro Short QQQ shares last traded at $78.7110, with a volume of 16,711,539 shares.

ProShares UltraPro Short QQQ Price Performance

The business has a 50-day moving average price of $71.42 and a 200-day moving average price of $71.57.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a $0.6384 dividend. This represents a $2.55 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, March 25th.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of SQQQ. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at about $29,000. Osaic Holdings Inc. boosted its stake 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 worth $42,000 after buying an additional 696 shares during the period. Parallel Advisors LLC boosted its stake 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 worth $30,000 after buying an additional 1,022 shares during the period. FNY Investment Advisers LLC increased its position in shares of ProShares UltraPro Short QQQ by 25.7% during the fourth quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock valued at $361,000 after acquiring an additional 1,078 shares during the last quarter. Finally, MAI Capital Management acquired a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at about $38,000.

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. 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.