ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Still a Buy?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Monday . The stock had previously closed at $27.93, but opened at $30.92. ProShares UltraPro Short QQQ shares last traded at $29.97, with a volume of 32,461,360 shares traded.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50-day moving average price of $30.37 and a two-hundred day moving average price of $36.62.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8168 dividend. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of SQQQ. Peoples Bank KS acquired a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $62,000. Strategic Investment Solutions Inc. IL acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at about $29,000. SG Americas Securities LLC grew its stake in ProShares UltraPro Short QQQ by 25.5% during the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after buying an additional 3,679 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings 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 worth $486,000 after buying an additional 3,822 shares in the last quarter. Finally, World Investment Advisors LLC raised 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 valued at $207,000 after acquiring an additional 9,463 shares during the last quarter.

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.