ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.80, but opened at $36.96. ProShares UltraPro Short QQQ shares last traded at $37.20, with a volume of 21,957,333 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50-day simple moving average is $30.05 and its 200 day simple moving average is $33.64.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given 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.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently modified their holdings of the company. RBF Capital LLC boosted its stake in ProShares UltraPro Short QQQ by 230.7% during the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after buying an additional 1,166,014 shares in the last quarter. Sollinda Capital Management LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at about $13,933,000. Smithfield Trust Co boosted its position in shares of ProShares UltraPro Short QQQ by 138.8% during the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after purchasing an additional 444,000 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $1,848,000. Finally, Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth approximately $7,334,000.

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.