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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Tuesday . The stock had previously closed at $38.51, but opened at $40.03. ProShares UltraPro Short QQQ shares last traded at $39.8930, with a volume of 10,812,139 shares traded.

ProShares UltraPro Short QQQ Stock Performance

The firm’s 50-day moving average is $39.91 and its two-hundred day moving average is $52.12.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in ProShares UltraPro Short QQQ by 105.4% in the 3rd 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. raised its stake in ProShares UltraPro Short QQQ by 47.2% in the 2nd 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. PayPay Securities Corp lifted its holdings in ProShares UltraPro Short QQQ by 131.4% in the 2nd quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in ProShares UltraPro Short QQQ during the 2nd quarter worth $102,000.

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. 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.