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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $7.71, but opened at $7.43. ProShares UltraPro Short QQQ shares last traded at $7.60, with a volume of 48,119,699 shares traded.

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ProShares UltraPro Short QQQ Stock Performance

The business's 50 day moving average price is $8.59 and its 200 day moving average price is $9.35.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a $0.1495 dividend. The ex-dividend date was Wednesday, September 25th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently modified their holdings of SQQQ. IMC Chicago LLC raised its holdings in ProShares UltraPro Short QQQ by 113.4% in the 2nd quarter. IMC Chicago LLC now owns 2,755,806 shares of the company's stock worth $22,818,000 after purchasing an additional 1,464,325 shares during the period. Jane Street Group LLC raised its stake in shares of ProShares UltraPro Short QQQ by 378.6% during the 1st quarter. Jane Street Group LLC now owns 1,947,014 shares of the company's stock worth $20,405,000 after buying an additional 1,540,169 shares during the period. Lane Generational LLC lifted its position in shares of ProShares UltraPro Short QQQ by 18.7% during the 1st quarter. Lane Generational LLC now owns 320,799 shares of the company's stock valued at $3,362,000 after buying an additional 50,645 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of ProShares UltraPro Short QQQ by 23.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 284,344 shares of the company's stock valued at $2,980,000 after buying an additional 54,632 shares in the last quarter. Finally, Smithfield Trust Co grew its stake in ProShares UltraPro Short QQQ by 26.7% in the 1st quarter. Smithfield Trust Co now owns 231,500 shares of the company's stock valued at $2,427,000 after acquiring an additional 48,800 shares during the period.

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About ProShares UltraPro Short QQQ

(Get Free Report)

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.

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