ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Should You Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped up prior to trading on Friday . The stock had previously closed at $31.55, but opened at $32.29. ProShares UltraPro Short QQQ shares last traded at $32.29, with a volume of 11,385,114 shares.

ProShares UltraPro Short QQQ Price Performance

The stock’s fifty day simple moving average is $33.15 and its two-hundred day simple moving average is $38.88.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.7475 per share. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.16. The ex-dividend date of this dividend was Wednesday, September 25th.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth about $29,000. SG Americas Securities LLC raised its stake in shares of ProShares UltraPro Short QQQ by 25.5% in the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock valued at $134,000 after purchasing an additional 3,679 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its position in ProShares UltraPro Short QQQ by 6.2% in the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock worth $486,000 after purchasing an additional 3,822 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at about $41,000. Finally, Embree Financial Group lifted its stake in ProShares UltraPro Short QQQ by 20.3% during the second quarter. Embree Financial Group now owns 32,607 shares of the company’s stock worth $270,000 after purchasing an additional 5,500 shares during the period.

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.