ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down to $8.30

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Tuesday . The stock had previously closed at $8.30, but opened at $8.13. ProShares UltraPro Short QQQ shares last traded at $8.22, with a volume of 19,773,592 shares traded.

ProShares UltraPro Short QQQ Price Performance

The stock’s 50-day simple moving average is $8.68 and its 200-day simple moving average is $9.60.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th were given a dividend of $0.1605 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date was Wednesday, June 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 140.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,201 shares of the company’s stock valued at $30,000 after acquiring an additional 1,287 shares during the period. Tower Research Capital LLC TRC lifted its holdings in ProShares UltraPro Short QQQ by 318.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 229,110 shares of the company’s stock valued at $3,082,000 after purchasing an additional 174,314 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in ProShares UltraPro Short QQQ by 168.8% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 38,873 shares of the company’s stock worth $523,000 after purchasing an additional 24,412 shares during the period. Cullen Investment Group LTD. purchased a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $241,000. Finally, Banque Cantonale Vaudoise raised its position in shares of ProShares UltraPro Short QQQ by 23.8% in the first quarter. Banque Cantonale Vaudoise now owns 284,344 shares of the company’s stock valued at $2,980,000 after purchasing an additional 54,632 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.