ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up - Here's What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $28.01, but opened at $28.61. ProShares UltraPro Short QQQ shares last traded at $29.14, with a volume of 10,790,911 shares.

ProShares UltraPro Short QQQ Stock Performance

The firm has a 50 day moving average of $32.53 and a 200 day moving average of $38.35.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.8168 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ's previous dividend of $0.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SQQQ. Raffles Associates LP raised its holdings in shares of ProShares UltraPro Short QQQ by 250.0% during the second quarter. Raffles Associates LP now owns 175,000 shares of the company's stock valued at $1,449,000 after purchasing an additional 125,000 shares during the period. Global Assets Advisory LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $548,000. DRW Securities LLC bought a new position in ProShares UltraPro Short QQQ in the second quarter worth approximately $1,481,000. AFG Fiduciary Services Limited Partnership increased its holdings in shares of ProShares UltraPro Short QQQ by 171.4% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 35,130 shares of the company's stock valued at $284,000 after acquiring an additional 22,184 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the second quarter worth approximately $41,000.

About ProShares UltraPro Short QQQ

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.