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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up prior to trading on Thursday . The stock had previously closed at $32.51, but opened at $34.13. ProShares UltraPro Short QQQ shares last traded at $33.67, with a volume of 17,219,455 shares trading hands.

ProShares UltraPro Short QQQ Stock Performance

The firm has a 50 day simple moving average of $29.49 and a 200 day simple moving average of $33.78.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8168 per share. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC bought a new position in ProShares UltraPro Short QQQ in the fourth quarter worth approximately $2,374,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $439,000. Compagnie Lombard Odier SCmA raised its stake in ProShares UltraPro Short QQQ by 3,357.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock worth $517,000 after acquiring an additional 16,116 shares during the period. Ridgepath Capital Management LLC raised its position in shares of ProShares UltraPro Short QQQ by 761.2% during the 4th quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock valued at $3,218,000 after purchasing an additional 91,348 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $360,000.

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.