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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $32.68, but opened at $33.82. ProShares UltraPro Short QQQ shares last traded at $34.16, with a volume of 10,148,556 shares trading hands.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50 day moving average of $37.36 and a two-hundred day moving average of $42.56.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were issued a $0.7475 dividend. The ex-dividend date was Wednesday, September 25th. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently bought and sold shares of SQQQ. SG Americas Securities LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 299.1% during the 1st quarter. SG Americas Securities LLC now owns 85,373 shares of the company’s stock valued at $895,000 after buying an additional 63,983 shares during the period. Resurgent Financial Advisors LLC boosted its position in ProShares UltraPro Short QQQ by 84.2% during the first quarter. Resurgent Financial Advisors LLC now owns 19,764 shares of the company’s stock worth $207,000 after purchasing an additional 9,036 shares during the period. Lane Generational LLC grew its holdings in ProShares UltraPro Short QQQ by 18.7% during the first quarter. Lane Generational LLC now owns 320,799 shares of the company’s stock valued at $3,362,000 after purchasing an additional 50,645 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of ProShares UltraPro Short QQQ by 17.1% in the first quarter. Cedar Wealth Management LLC now owns 28,374 shares of the company’s stock valued at $297,000 after purchasing an additional 4,142 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter valued at approximately $524,000.

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.