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 Thursday . The stock had previously closed at $75.14, but opened at $71.68. ProShares UltraPro Short QQQ shares last traded at $72.0130, with a volume of 10,598,103 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50 day moving average price of $70.82 and a 200-day moving average price of $84.92.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were issued a $1.2136 dividend. This represents a $4.85 annualized dividend and a yield of 6.9%. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 24th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings 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 acquired a new stake in ProShares UltraPro Short QQQ in the second quarter valued at $38,000. Osaic Holdings Inc. lifted its stake in shares of ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the period. PayPay Securities Corp grew its position in ProShares UltraPro Short QQQ by 100.8% during the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock worth $61,000 after buying an additional 1,568 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $63,000.

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.