ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened on Monday . The stock had previously closed at $28.93, but opened at $28.23. ProShares UltraPro Short QQQ shares last traded at $27.90, with a volume of 7,388,537 shares traded.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50 day simple moving average of $29.53 and a 200 day simple moving average of $35.69.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors have recently modified their holdings of the company. Peoples Bank KS bought a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at approximately $62,000. TFB Advisors LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at approximately $131,000. CWA Asset Management Group LLC bought a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at approximately $133,000. SG Americas Securities LLC lifted its stake in ProShares UltraPro Short QQQ by 25.5% in the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after acquiring an additional 3,679 shares during the period. Finally, Venture Visionary Partners LLC bought a new stake in ProShares UltraPro Short QQQ in the third quarter valued at $144,000.

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.