ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened on Thursday . The stock had previously closed at $67.97, but opened at $65.96. ProShares UltraPro Short QQQ shares last traded at $66.7530, with a volume of 17,860,778 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day moving average price of $68.80 and a two-hundred day moving average price of $77.52.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were issued a $1.5055 dividend. The ex-dividend date was Wednesday, December 24th. This is a positive change from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 dividend on an annualized basis and a yield of 9.1%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SQQQ. Parallel Advisors LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares in the last quarter. MAI Capital Management purchased a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth $38,000. Osaic Holdings Inc. grew its stake in shares of ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after acquiring an additional 696 shares in the last quarter. PayPay Securities Corp lifted its position in shares of ProShares UltraPro Short QQQ by 100.8% during the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock valued at $61,000 after purchasing an additional 1,568 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in ProShares UltraPro Short QQQ in the 3rd quarter worth about $63,000.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.