ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $36.40, but opened at $37.32. ProShares UltraPro Short QQQ shares last traded at $36.11, with a volume of 12,644,429 shares.

ProShares UltraPro Short QQQ Trading Down 0.3 %

The company has a 50 day moving average price of $30.90 and a 200 day moving average price of $33.52.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Centerpoint Advisors LLC raised its position in ProShares UltraPro Short QQQ by 20.0% in the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after acquiring an additional 1,000 shares in the last quarter. Peoples Bank KS purchased a new position in ProShares UltraPro Short QQQ in the fourth quarter worth $62,000. Horizon Kinetics Asset Management LLC raised its position in ProShares UltraPro Short QQQ by 6.2% in the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock worth $486,000 after acquiring an additional 3,822 shares in the last quarter. World Investment Advisors LLC raised its position in ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after acquiring an additional 9,463 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in ProShares UltraPro Short QQQ in the fourth quarter worth $360,000.

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.