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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped down before the market opened on Friday . The stock had previously closed at $68.50, but opened at $66.65. ProShares UltraPro Short QQQ shares last traded at $66.1790, with a volume of 6,316,490 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The company’s 50-day simple moving average is $69.29 and its 200 day simple moving average is $81.70.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were issued a $1.5055 dividend. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date was Wednesday, December 24th.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in SQQQ. Game Plan Financial Advisors LLC raised its stake in shares of ProShares UltraPro Short QQQ by 16,818.2% in the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock valued at $71,000 after acquiring an additional 1,850 shares in the last quarter. MAI Capital Management acquired a new position in ProShares UltraPro Short QQQ during the second quarter valued at approximately $38,000. Parallel Advisors LLC grew its holdings in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares during the last quarter. Osaic Holdings Inc. raised its position 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. Finally, PayPay Securities Corp lifted its stake in shares of ProShares UltraPro Short QQQ by 100.8% in 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 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.