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

Posted by Trent Williams on Feb 12th, 2025

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $28.10, but opened at $29.03. ProShares UltraPro Short QQQ shares last traded at $28.37, with a volume of 18,808,872 shares.

ProShares UltraPro Short QQQ Stock Down 0.1 %

The stock’s fifty day moving average price is $29.53 and its 200 day moving average price is $35.69.

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 issued a $0.8168 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Global Assets Advisory LLC bought a new position in shares of ProShares UltraPro Short QQQ in the third quarter worth about $548,000. Capital Investment Advisory Services LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $2,374,000. Ridgepath Capital Management LLC grew its holdings in 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 acquiring an additional 91,348 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at about $360,000. Finally, Hodges Capital Management Inc. purchased a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at about $623,000.

About ProShares UltraPro Short QQQ

(Get Free Report)

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.