ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down to $10.49

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Wednesday . The stock had previously closed at $10.49, but opened at $9.99. ProShares UltraPro Short QQQ shares last traded at $9.90, with a volume of 31,756,244 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The firm’s 50 day moving average is $8.62 and its 200-day moving average is $10.22.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were given a $0.1605 dividend. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.34%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of ProShares UltraPro Short QQQ by 369.2% in the 4th quarter. Larson Financial Group LLC now owns 2,116 shares of the company’s stock worth $28,000 after acquiring an additional 1,665 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 140.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,201 shares of the company’s stock valued at $30,000 after purchasing an additional 1,287 shares during the period. Game Plan Financial Advisors LLC increased its position in ProShares UltraPro Short QQQ by 450.5% during the first quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock worth $32,000 after purchasing an additional 2,500 shares during the last quarter. International Assets Investment Management LLC purchased a new position in ProShares UltraPro Short QQQ during the second quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in ProShares UltraPro Short QQQ by 438.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock valued at $85,000 after purchasing an additional 6,580 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.