ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up prior to trading on Thursday . The stock had previously closed at $77.45, but opened at $81.70. ProShares UltraPro Short QQQ shares last traded at $80.6250, with a volume of 14,100,665 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The firm’s 50-day moving average price is $72.71 and its 200 day moving average price is $71.46.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were given a dividend of $0.6384 per share. This represents a $2.55 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, March 25th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at $33,368,000. Q Fund Management Hong Kong Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth $11,051,000. TB Alternative Assets Ltd. bought a new stake in shares of ProShares UltraPro Short QQQ during the 3rd quarter worth $8,394,000. Smithfield Trust Co boosted its stake in ProShares UltraPro Short QQQ by 330.6% in the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock valued at $8,523,000 after buying an additional 429,640 shares in the last quarter. Finally, Flow Traders U.S. LLC boosted its stake in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after buying an additional 421,972 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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.