ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened 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.

ProShares UltraPro Short QQQ Stock Performance

The stock has a fifty day moving average price of $31.89 and a 200 day moving average price of $37.78.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid 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 of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC grew its stake in shares of ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after acquiring an additional 9,463 shares during the last quarter. Barclays PLC boosted its holdings in ProShares UltraPro Short QQQ by 157.8% in the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing an additional 124,500 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in ProShares UltraPro Short QQQ in the 3rd quarter worth $1,848,000. RBF Capital LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after purchasing an additional 1,166,014 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of ProShares UltraPro Short QQQ by 6.2% during the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after buying an additional 3,822 shares during the last quarter.

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.