ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped up prior to trading on Thursday . The stock had previously closed at $36.40, but opened at $37.32. ProShares UltraPro Short QQQ shares last traded at $36.11, with a volume of 12,644,429 shares trading hands.

ProShares UltraPro Short QQQ Stock Down 0.3 %

The stock has a fifty day moving average of $30.90 and a 200-day moving average of $33.52.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8168 dividend. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently modified their holdings of the company. Centerpoint Advisors LLC boosted its holdings 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 valued at $187,000 after acquiring an additional 1,000 shares during the period. Peoples Bank KS acquired a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $62,000. Horizon Kinetics Asset Management LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 6.2% in the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after acquiring an additional 3,822 shares during the period. World Investment Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after acquiring an additional 9,463 shares during the period. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $360,000.

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.