ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $75.21, but opened at $77.28. ProShares UltraPro Short QQQ shares last traded at $76.9390, with a volume of 20,408,041 shares trading hands.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50 day moving average is $69.44 and its two-hundred day moving average is $71.88.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a $1.5055 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $6.02 dividend on an annualized basis and a dividend yield of 7.8%. This is a positive change from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently added to or reduced their stakes in the business. AXS Investments LLC bought a new position in ProShares UltraPro Short QQQ during the third quarter valued at $3,251,000. Smithfield Trust Co increased its stake in shares of ProShares UltraPro Short QQQ by 330.6% in the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after acquiring an additional 429,640 shares in the last quarter. Intellectus Partners LLC purchased a new position in ProShares UltraPro Short QQQ during the 3rd quarter valued at about $381,000. CreativeOne Wealth LLC bought a new stake in ProShares UltraPro Short QQQ during the third quarter worth about $831,000. Finally, Optiver Holding B.V. grew its holdings in ProShares UltraPro Short QQQ by 1,685.7% in the third quarter. Optiver Holding B.V. now owns 309,795 shares of the company’s stock worth $4,718,000 after purchasing an additional 292,446 shares during the period.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.