ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Time to Buy?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up prior to trading on Thursday . The stock had previously closed at $40.94, but opened at $42.81. ProShares UltraPro Short QQQ shares last traded at $43.5450, with a volume of 23,928,693 shares traded.

ProShares UltraPro Short QQQ Price Performance

The stock’s 50-day moving average is $39.90 and its 200 day moving average is $57.42.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of ProShares UltraPro Short QQQ during the 1st quarter worth $7,668,000. JPMorgan Chase & Co. acquired a new position in ProShares UltraPro Short QQQ during the second quarter worth about $400,000. Cresset Asset Management LLC purchased a new position in ProShares UltraPro Short QQQ in the second quarter valued at about $198,000. Jump Financial LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at approximately $2,794,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of ProShares UltraPro Short QQQ by 2,856.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 10,969 shares of the company’s stock worth $215,000 after acquiring an additional 10,598 shares in the last quarter.

ProShares UltraPro Short QQQ Company Profile

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.