ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $36.22, but opened at $33.78. ProShares UltraPro Short QQQ shares last traded at $34.86, with a volume of 26,041,712 shares trading hands.

ProShares UltraPro Short QQQ Price Performance

The stock’s 50-day moving average price is $35.02 and its 200 day moving average price is $33.23.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a dividend of $0.4823 per share. This represents a $1.93 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC bought a new stake in ProShares UltraPro Short QQQ during the 1st quarter valued at approximately $27,000. Peoples Bank KS bought a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $62,000. Centerpoint Advisors LLC grew 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 worth $187,000 after acquiring an additional 1,000 shares during the last quarter. World Investment Advisors LLC increased its position in ProShares UltraPro Short QQQ by 51.0% during the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after acquiring an additional 9,463 shares during the period. Finally, Foundations Investment Advisors LLC bought a new position in ProShares UltraPro Short QQQ during the fourth quarter worth $360,000.

ProShares UltraPro Short QQQ Company Profile

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.