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

Posted by Grant Hamersma on Feb 12th, 2025

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) gapped up before the market opened 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 changing hands.

ProShares UltraPro Short QQQ Trading Down 0.1 %

The firm’s 50-day moving average is $29.53 and its 200-day moving average is $35.69.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8168 dividend. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of SQQQ. Peoples Bank KS purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $62,000. Centerpoint Advisors LLC raised its stake in shares of ProShares UltraPro Short QQQ by 20.0% in the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after acquiring an additional 1,000 shares during the period. Foundations Investment Advisors LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at $360,000. SBI Securities Co. Ltd. purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at $423,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at $439,000.

ProShares UltraPro Short QQQ Company Profile

(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.