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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $40.45, but opened at $37.87. ProShares UltraPro Short QQQ shares last traded at $40.2480, with a volume of 19,458,879 shares trading hands.

ProShares UltraPro Short QQQ Stock Up 4.7%

The company has a 50 day moving average of $43.94 and a 200-day moving average of $61.11.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently made changes to their positions in the business. Sollinda Capital Management LLC purchased a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth $3,435,000. CreativeOne Wealth LLC bought a new position in ProShares UltraPro Short QQQ in the 3rd quarter worth $831,000. Citigroup Inc. lifted its position in shares of ProShares UltraPro Short QQQ by 17.5% in the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after purchasing an additional 106,243 shares during the period. Intellectus Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter worth about $381,000. Finally, Flow Traders U.S. LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 168.5% during the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after purchasing an additional 421,972 shares in the last quarter.

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. 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.