ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.80, but opened at $36.96. ProShares UltraPro Short QQQ shares last traded at $37.20, with a volume of 21,957,333 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50-day moving average of $30.18 and a 200 day moving average of $33.67.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8168 per share. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Centerpoint Advisors LLC raised its holdings in shares of ProShares UltraPro Short QQQ by 20.0% during the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after acquiring an additional 1,000 shares during the period. Peoples Bank KS purchased a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $62,000. Horizon Kinetics Asset Management LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 6.2% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock worth $486,000 after purchasing an additional 3,822 shares during the period. World Investment Advisors LLC grew its holdings 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 worth $207,000 after purchasing an additional 9,463 shares during the period. Finally, Schwallier Wealth Management LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 14.3% during the 3rd quarter. Schwallier Wealth Management LLC now owns 80,000 shares of the company’s stock worth $591,000 after purchasing an additional 10,000 shares during the period.

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.