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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down before the market opened on Thursday . The stock had previously closed at $40.61, but opened at $38.69. ProShares UltraPro Short QQQ shares last traded at $38.9540, with a volume of 15,947,548 shares.

ProShares UltraPro Short QQQ Trading Down 5.0%

The firm has a 50-day moving average price of $39.87 and a 200 day moving average price of $49.41.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently made changes to their positions in the business. IMC Chicago LLC boosted its holdings in shares of 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 buying an additional 588,799 shares during the last quarter. Trivest Advisors Ltd bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter worth approximately $14,194,000. Hamilton Wealth LLC raised its position in shares of ProShares UltraPro Short QQQ by 1,087.5% during the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock valued at $8,135,000 after purchasing an additional 108,754 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at $1,322,000. Finally, Nwam LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 1st quarter valued at $1,460,000.

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. 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.