ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Should You Sell?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down before the market opened on Friday . The stock had previously closed at $28.85, but opened at $28.26. ProShares UltraPro Short QQQ shares last traded at $27.84, with a volume of 6,011,038 shares traded.

ProShares UltraPro Short QQQ Price Performance

The stock’s 50-day moving average price is $30.19 and its 200-day moving average price is $36.51.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in SQQQ. Strategic Investment Solutions Inc. IL bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth $29,000. Peoples Bank KS bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth $62,000. TFB Advisors LLC acquired a new position in ProShares UltraPro Short QQQ in the third quarter valued at about $131,000. CWA Asset Management Group LLC bought a new stake in ProShares UltraPro Short QQQ during the third quarter worth about $133,000. Finally, SG Americas Securities LLC grew its stake in ProShares UltraPro Short QQQ by 25.5% during the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after buying an additional 3,679 shares in 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.