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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Monday . The stock had previously closed at $42.79, but opened at $41.54. ProShares UltraPro Short QQQ shares last traded at $41.7720, with a volume of 19,319,421 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The business has a 50 day simple moving average of $39.93 and a 200 day simple moving average of $57.61.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 104.0% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after buying an additional 415 shares during the period. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $29,000. Osaic Holdings Inc. increased its stake in shares of ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after buying an additional 696 shares during the period. FNY Investment Advisers LLC increased its stake in shares of ProShares UltraPro Short QQQ by 25.7% during the fourth quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock worth $361,000 after buying an additional 1,078 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $137,000.

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. 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.