ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.48, but opened at $15.13. ProShares UltraPro Short QQQ shares last traded at $14.4280, with a volume of 106,639,648 shares.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day moving average of $14.93 and a 200-day moving average of $19.08.

ProShares UltraPro Short QQQ’s stock is going to reverse split before the market opens on Thursday, November 20th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 19th.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were paid a dividend of $0.2427 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Wednesday, September 24th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in SQQQ. Redwood Park Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 69.3% in the 1st quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock valued at $34,000 after acquiring an additional 363 shares during the period. Osaic Holdings Inc. grew its holdings in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares during the period. Parallel Advisors LLC increased its position in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after buying an additional 1,022 shares during the last quarter. PayPay Securities Corp raised its stake in ProShares UltraPro Short QQQ by 100.8% in the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock valued at $61,000 after buying an additional 1,568 shares during the period. Finally, Game Plan Financial Advisors LLC raised its stake in ProShares UltraPro Short QQQ by 16,818.2% in the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock valued at $71,000 after buying an additional 1,850 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.