ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Here’s Why

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Wednesday . The stock had previously closed at $28.70, but opened at $27.95. ProShares UltraPro Short QQQ shares last traded at $27.47, with a volume of 8,947,699 shares trading hands.

ProShares UltraPro Short QQQ Stock Down 4.7 %

The stock’s fifty day simple moving average is $30.87 and its 200-day simple moving average is $36.92.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8168 dividend. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently added to or reduced their stakes in the business. Peoples Bank KS acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at about $62,000. Strategic Investment Solutions Inc. IL acquired a new position in ProShares UltraPro Short QQQ during the second quarter worth approximately $29,000. SG Americas Securities LLC raised its stake in ProShares UltraPro Short QQQ by 25.5% during the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after purchasing an additional 3,679 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 6.2% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after purchasing an additional 3,822 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of ProShares UltraPro Short QQQ by 51.0% during the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after buying an additional 9,463 shares during the period.

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.