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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $41.07, but opened at $42.77. ProShares UltraPro Short QQQ shares last traded at $43.1710, with a volume of 21,298,114 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The stock’s fifty day moving average is $65.11 and its 200 day moving average is $67.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at about $33,368,000. IMC Chicago LLC lifted its stake in ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock worth $65,124,000 after purchasing an additional 588,799 shares during the last quarter. Citigroup Inc. lifted its stake in ProShares UltraPro Short QQQ by 17.5% in the third quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after purchasing an additional 106,243 shares during the last quarter. Flow Traders U.S. LLC lifted its stake in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after purchasing an additional 421,972 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in ProShares UltraPro Short QQQ by 330.6% in the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares during the last quarter.

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. 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.