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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down prior to trading on Thursday . The stock had previously closed at $66.94, but opened at $64.70. ProShares UltraPro Short QQQ shares last traded at $64.8210, with a volume of 14,154,328 shares trading hands.

ProShares UltraPro Short QQQ Trading Down 2.9%

The business has a fifty day moving average price of $69.23 and a 200 day moving average price of $78.87.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $1.5055 dividend. This is a positive change from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. The ex-dividend date was Wednesday, December 24th. This represents a $6.02 dividend on an annualized basis and a dividend yield of 9.3%.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in shares of ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after acquiring an additional 1,022 shares in the last quarter. MAI Capital Management purchased a new position in ProShares UltraPro Short QQQ in the second quarter valued at about $38,000. Osaic Holdings Inc. lifted its stake in shares of 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 purchasing an additional 696 shares in the last quarter. PayPay Securities Corp boosted its position in shares of ProShares UltraPro Short QQQ by 100.8% in the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock worth $61,000 after buying an additional 1,568 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at about $63,000.

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.