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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up prior to trading on Friday . The stock had previously closed at $32.68, but opened at $33.82. ProShares UltraPro Short QQQ shares last traded at $34.16, with a volume of 10,148,556 shares trading hands.

ProShares UltraPro Short QQQ Price Performance

The company has a 50 day moving average of $37.09 and a 200 day moving average of $42.29.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently made changes to their positions in SQQQ. IMC Chicago LLC boosted its position in ProShares UltraPro Short QQQ by 40.6% in the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after buying an additional 1,119,452 shares in the last quarter. Jane Street Group LLC raised its stake in shares of ProShares UltraPro Short QQQ by 378.6% in the first quarter. Jane Street Group LLC now owns 1,947,014 shares of the company’s stock valued at $20,405,000 after acquiring an additional 1,540,169 shares during the last quarter. RBF Capital LLC raised its stake in shares of ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after acquiring an additional 1,166,014 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of ProShares UltraPro Short QQQ by 138.8% in the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after acquiring an additional 444,000 shares in the last quarter. Finally, Lane Generational LLC grew its position in ProShares UltraPro Short QQQ by 18.7% during the 1st quarter. Lane Generational LLC now owns 320,799 shares of the company’s stock worth $3,362,000 after acquiring an additional 50,645 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.