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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened on Friday . The stock had previously closed at $7.71, but opened at $7.43. ProShares UltraPro Short QQQ shares last traded at $7.60, with a volume of 48,119,699 shares.

ProShares UltraPro Short QQQ Trading Down 3.6 %

The stock has a fifty day moving average of $8.56 and a 200-day moving average of $9.32.

ProShares UltraPro Short QQQ Cuts Dividend

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

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC raised its position in ProShares UltraPro Short QQQ by 378.6% during the 1st quarter. Jane Street Group LLC now owns 1,947,014 shares of the company’s stock worth $20,405,000 after buying an additional 1,540,169 shares during the last quarter. IMC Chicago LLC lifted its position in ProShares UltraPro Short QQQ by 113.4% in the second quarter. IMC Chicago LLC now owns 2,755,806 shares of the company’s stock valued at $22,818,000 after purchasing an additional 1,464,325 shares during the period. DRW Securities LLC purchased a new stake in ProShares UltraPro Short QQQ in the 2nd quarter valued at approximately $1,481,000. Tower Research Capital LLC TRC increased its position in ProShares UltraPro Short QQQ by 318.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 229,110 shares of the company’s stock worth $3,082,000 after purchasing an additional 174,314 shares during the period. Finally, Raffles Associates LP raised its stake in shares of ProShares UltraPro Short QQQ by 250.0% during the 2nd quarter. Raffles Associates LP now owns 175,000 shares of the company’s stock worth $1,449,000 after buying an additional 125,000 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.