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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped up prior to trading on Friday . The stock had previously closed at $40.89, but opened at $43.43. ProShares UltraPro Short QQQ shares last traded at $42.6270, with a volume of 16,293,609 shares changing hands.

ProShares UltraPro Short QQQ Trading Up 5.0%

The company has a fifty day simple moving average of $39.97 and a two-hundred day simple moving average of $58.15.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of SQQQ. Sollinda Capital Management LLC bought a new position in ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $3,435,000. IMC Chicago LLC acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth $15,090,000. JPMorgan Chase & Co. raised its position in shares of ProShares UltraPro Short QQQ by 804.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock valued at $2,816,000 after acquiring an additional 164,440 shares during the last quarter. Cantor Fitzgerald L. P. raised its position in shares of ProShares UltraPro Short QQQ by 38.3% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 61,142 shares of the company’s stock valued at $931,000 after acquiring an additional 16,944 shares during the last quarter. Finally, Hamilton Wealth LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 1,087.5% in the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock valued at $8,135,000 after purchasing an additional 108,754 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. 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.