ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Friday . The stock had previously closed at $40.89, but opened at $43.43. ProShares UltraPro Short QQQ shares last traded at $42.6270, with a volume of 16,293,609 shares trading hands.

ProShares UltraPro Short QQQ Trading Up 4.6%

The business has a fifty day moving average price of $39.98 and a 200 day moving average price of $58.04.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at about $29,000. Parallel Advisors LLC increased its position in ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after purchasing an additional 1,022 shares in the last quarter. Osaic Holdings Inc. raised its holdings in ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares during the period. FNY Investment Advisers LLC purchased a new position in ProShares UltraPro Short QQQ in the third quarter valued at approximately $63,000. Finally, Ramsey Quantitative Systems acquired a new position in ProShares UltraPro Short QQQ during the second quarter valued at approximately $102,000.

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. 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.