ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.64, but opened at $29.88. ProShares UltraPro Short QQQ shares last traded at $29.79, with a volume of 5,243,759 shares traded.

ProShares UltraPro Short QQQ Trading Down 5.2 %

The firm has a 50-day moving average of $34.36 and a two-hundred day moving average of $39.83.

ProShares UltraPro Short QQQ Increases Dividend

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

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. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at $41,000. Jeppson Wealth Management LLC bought a new stake in ProShares UltraPro Short QQQ during the 2nd quarter worth $88,000. TFB Advisors LLC acquired a new position in ProShares UltraPro Short QQQ in the 3rd quarter worth about $131,000. Finally, CWA Asset Management Group LLC bought a new position in ProShares UltraPro Short QQQ in the third quarter valued at about $133,000.

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.