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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares 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 trading hands.

ProShares UltraPro Short QQQ Stock Up 8.7 %

The company has a fifty day moving average of $30.54 and a 200 day moving average of $36.73.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SQQQ. Strategic Investment Solutions Inc. IL acquired a new position in shares of ProShares UltraPro Short QQQ in the second quarter worth about $29,000. Peoples Bank KS acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at about $62,000. TFB Advisors LLC acquired a new position in ProShares UltraPro Short QQQ during the third quarter worth $131,000. CWA Asset Management Group LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the 3rd quarter valued at about $133,000. Finally, SG Americas Securities LLC grew its stake in shares of ProShares UltraPro Short QQQ by 25.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock valued at $134,000 after buying an additional 3,679 shares during the period.

ProShares UltraPro Short QQQ Company Profile

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.