ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Should You Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $38.30, but opened at $40.06. ProShares UltraPro Short QQQ shares last traded at $40.12, with a volume of 21,243,210 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50 day moving average price is $31.55 and its 200 day moving average price is $32.98.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be given a dividend of $0.4823 per share. This represents a $1.93 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently made changes to their positions in the business. Peoples Bank KS acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at $62,000. Centerpoint Advisors LLC increased its stake in shares of ProShares UltraPro Short QQQ by 20.0% during the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after purchasing an additional 1,000 shares in the last quarter. World Investment Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 51.0% during the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after purchasing an additional 9,463 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in ProShares UltraPro Short QQQ in the 4th quarter valued at about $360,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth about $423,000.

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.