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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down before the market opened on Thursday . The stock had previously closed at $67.97, but opened at $65.96. ProShares UltraPro Short QQQ shares last traded at $66.7530, with a volume of 17,860,778 shares.

ProShares UltraPro Short QQQ Trading Down 1.4%

The firm’s 50-day simple moving average is $69.05 and its 200 day simple moving average is $77.82.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were given a dividend of $1.5055 per share. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend was Wednesday, December 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Joule Financial LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $240,000. FNY Investment Advisers LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 25.7% during the 4th quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock worth $361,000 after buying an additional 1,078 shares during the last quarter. Sollinda Capital Management LLC acquired a new position in ProShares UltraPro Short QQQ in the 4th quarter valued at about $3,435,000. JPMorgan Chase & Co. raised its holdings in ProShares UltraPro Short QQQ by 804.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock valued at $2,816,000 after acquiring an additional 164,440 shares during the period. Finally, Cantor Fitzgerald L. P. lifted its position in ProShares UltraPro Short QQQ by 38.3% during the third quarter. Cantor Fitzgerald L. P. now owns 61,142 shares of the company’s stock worth $931,000 after acquiring an additional 16,944 shares during 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.