ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Thursday . The stock had previously closed at $7.27, but opened at $7.04. ProShares UltraPro Short QQQ shares last traded at $7.13, with a volume of 28,215,348 shares trading hands.

ProShares UltraPro Short QQQ Stock Down 1.8 %

The firm’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $9.12.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were given a dividend of $0.1495 per share. The ex-dividend date was Wednesday, September 25th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently bought and sold shares of SQQQ. B. Riley Wealth Advisors Inc. increased its stake in ProShares UltraPro Short QQQ by 168.8% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 38,873 shares of the company’s stock worth $523,000 after acquiring an additional 24,412 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of ProShares UltraPro Short QQQ by 450.5% in the first quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock worth $32,000 after buying an additional 2,500 shares during the period. IMC Chicago LLC boosted its holdings in ProShares UltraPro Short QQQ by 43.4% during the 1st quarter. IMC Chicago LLC now owns 1,291,481 shares of the company’s stock valued at $13,535,000 after acquiring an additional 390,730 shares during the period. Galibier Capital Management Ltd. grew its position in ProShares UltraPro Short QQQ by 195.0% in the 1st quarter. Galibier Capital Management Ltd. now owns 29,500 shares of the company’s stock valued at $309,000 after acquiring an additional 19,500 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its stake in ProShares UltraPro Short QQQ by 64.8% in the 1st quarter. Bourgeon Capital Management LLC now owns 36,250 shares of the company’s stock worth $380,000 after buying an additional 14,250 shares during the period.

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.