ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Should You Buy?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Friday . The stock had previously closed at $32.68, but opened at $33.82. ProShares UltraPro Short QQQ shares last traded at $34.16, with a volume of 10,148,556 shares trading hands.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day moving average price of $37.36 and a 200-day moving average price of $42.56.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a $0.7475 dividend. The ex-dividend date was Wednesday, September 25th. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in ProShares UltraPro Short QQQ by 378.6% in the 1st quarter. Jane Street Group LLC now owns 1,947,014 shares of the company’s stock worth $20,405,000 after purchasing an additional 1,540,169 shares during the last quarter. IMC Chicago LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 113.4% in the second quarter. IMC Chicago LLC now owns 2,755,806 shares of the company’s stock valued at $22,818,000 after buying an additional 1,464,325 shares during the period. Smithfield Trust Co grew its position in ProShares UltraPro Short QQQ by 138.8% during the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after buying an additional 444,000 shares in the last quarter. DRW Securities LLC bought a new position in ProShares UltraPro Short QQQ during the second quarter valued at about $1,481,000. Finally, Raffles Associates LP raised its holdings in ProShares UltraPro Short QQQ by 250.0% in the 2nd quarter. Raffles Associates LP now owns 175,000 shares of the company’s stock valued at $1,449,000 after acquiring an additional 125,000 shares in the last quarter.

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.