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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped up before the market opened on Friday . The stock had previously closed at $28.01, but opened at $28.61. ProShares UltraPro Short QQQ shares last traded at $29.14, with a volume of 10,790,911 shares.

ProShares UltraPro Short QQQ Trading Up 4.1 %

The company has a fifty day simple moving average of $32.40 and a two-hundred day simple moving average of $38.24.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.8168 per share. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date is Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SQQQ. IMC Chicago LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 40.6% in the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after acquiring an additional 1,119,452 shares during the last quarter. RBF Capital LLC boosted its holdings in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after purchasing an additional 1,166,014 shares in the last quarter. Smithfield Trust Co increased its stake in ProShares UltraPro Short QQQ by 138.8% in the third 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 during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in ProShares UltraPro Short QQQ during the third quarter worth approximately $1,848,000. Finally, Barclays PLC lifted its position in shares of ProShares UltraPro Short QQQ by 157.8% during the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock worth $1,503,000 after buying an additional 124,500 shares during 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.