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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $36.40, but opened at $37.32. ProShares UltraPro Short QQQ shares last traded at $36.11, with a volume of 12,644,429 shares traded.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50-day moving average of $31.12 and a 200-day moving average of $33.35.

Institutional Trading of ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of the business. Capital Investment Advisory Services LLC purchased a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $2,374,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at $439,000. Compagnie Lombard Odier SCmA lifted its holdings in shares of 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 last quarter. SBI Securities Co. Ltd. purchased a new position in ProShares UltraPro Short QQQ in the fourth quarter worth $423,000. Finally, Ridgepath Capital Management LLC grew its position in ProShares UltraPro Short QQQ by 761.2% in the fourth quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company's stock worth $3,218,000 after acquiring an additional 91,348 shares in the last quarter.

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.