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 Monday . The stock had previously closed at $50.36, but opened at $55.66. ProShares UltraPro Short QQQ shares last traded at $56.51, with a volume of 45,983,947 shares changing hands.

ProShares UltraPro Short QQQ Stock Down 0.4 %

The company has a 50 day moving average price of $32.84 and a 200-day moving average price of $32.97.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a $0.4823 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 3.85%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors have recently added to or reduced their stakes in the stock. Peoples Bank KS acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth $62,000. Centerpoint Advisors LLC raised its position in ProShares UltraPro Short QQQ by 20.0% during the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after purchasing an additional 1,000 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 51.0% in the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after purchasing an additional 9,463 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $360,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth $423,000.

About ProShares UltraPro Short QQQ

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.