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 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.

ProShares UltraPro Short QQQ Trading Down 2.1 %

The firm’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $9.13.

ProShares UltraPro Short QQQ Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Game Plan Financial Advisors LLC increased its stake in shares of ProShares UltraPro Short QQQ by 450.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock worth $32,000 after purchasing an additional 2,500 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of ProShares UltraPro Short QQQ by 438.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock worth $85,000 after purchasing an additional 6,580 shares in the last quarter. Finally, Camarda Financial Advisors LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 1st quarter worth approximately $107,000.

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.