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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened on Monday . The stock had previously closed at $36.40, but opened at $34.75. ProShares UltraPro Short QQQ shares last traded at $34.41, with a volume of 11,397,083 shares.

ProShares UltraPro Short QQQ Stock Performance

The company’s 50 day moving average price is $31.12 and its 200 day moving average price is $33.35.

Institutional Trading of ProShares UltraPro Short QQQ

Large investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $2,374,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $439,000. Compagnie Lombard Odier SCmA boosted its holdings in shares of ProShares UltraPro Short QQQ by 3,357.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock worth $517,000 after buying an additional 16,116 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $423,000. Finally, Ridgepath Capital Management LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 761.2% during the 4th quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock worth $3,218,000 after buying an additional 91,348 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.