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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Monday . The stock had previously closed at $29.84, but opened at $28.90. ProShares UltraPro Short QQQ shares last traded at $28.58, with a volume of 9,165,861 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50-day simple moving average of $31.67 and a 200 day simple moving average of $37.61.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued 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 Trading of ProShares UltraPro Short QQQ

Large investors have recently bought and sold shares of the company. RBF Capital LLC boosted its stake in shares of 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 purchasing an additional 1,166,014 shares during the period. IMC Chicago LLC lifted its holdings in ProShares UltraPro Short QQQ by 40.6% in the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock worth $28,638,000 after buying an additional 1,119,452 shares in the last quarter. Smithfield Trust Co boosted its position in ProShares UltraPro Short QQQ by 138.8% in the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after buying an additional 444,000 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the third quarter valued at about $1,848,000. Finally, DRW Securities LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth about $1,481,000.

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.