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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down before the market opened on Monday . The stock had previously closed at $42.79, but opened at $41.54. ProShares UltraPro Short QQQ shares last traded at $41.7720, with a volume of 19,319,421 shares.

ProShares UltraPro Short QQQ Stock Performance

The firm’s 50-day simple moving average is $39.98 and its two-hundred day simple moving average is $57.98.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the business. IMC Chicago LLC lifted its position in shares of ProShares UltraPro Short QQQ by 267.3% during the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock worth $65,124,000 after buying an additional 588,799 shares in the last quarter. Jump Financial LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 291.5% in the third quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock valued at $8,512,000 after acquiring an additional 416,119 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $6,504,000. Goldman Sachs Group Inc. bought a new stake in ProShares UltraPro Short QQQ during the first quarter worth $7,668,000. Finally, JPMorgan Chase & Co. lifted its holdings in ProShares UltraPro Short QQQ by 804.3% during the third quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after acquiring an additional 164,440 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. 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.