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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down prior to trading on Monday . The stock had previously closed at $80.25, but opened at $76.49. ProShares UltraPro Short QQQ shares last traded at $75.0960, with a volume of 24,831,860 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day moving average price of $70.48 and a 200 day moving average price of $71.45.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be issued a $0.6384 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.55 annualized dividend and a yield of 3.2%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SQQQ. Larson Financial Group LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth about $29,000. Parallel Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after purchasing an additional 1,022 shares during the last quarter. MAI Capital Management bought a new position in shares of ProShares UltraPro Short QQQ during the second quarter worth about $38,000. Osaic Holdings Inc. grew its stake 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 worth $42,000 after purchasing an additional 696 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in ProShares UltraPro Short QQQ in the third quarter worth about $63,000.

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.