ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down to $9.43

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Wednesday . The stock had previously closed at $9.43, but opened at $8.80. ProShares UltraPro Short QQQ shares last traded at $8.85, with a volume of 31,462,643 shares changing hands.

ProShares UltraPro Short QQQ Stock Up 7.3 %

The stock’s fifty day moving average is $8.58 and its 200-day moving average is $10.30.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were paid a dividend of $0.1605 per share. The ex-dividend date was Wednesday, June 26th. This represents a $0.64 annualized dividend and a dividend yield of 6.49%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQQQ. Sowell Financial Services LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $401,000. Tower Research Capital LLC TRC raised its position in shares of ProShares UltraPro Short QQQ by 318.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 229,110 shares of the company’s stock valued at $3,082,000 after purchasing an additional 174,314 shares during the period. Vontobel Holding Ltd. raised its position in shares of ProShares UltraPro Short QQQ by 190.4% in the fourth quarter. Vontobel Holding Ltd. now owns 121,677 shares of the company’s stock valued at $1,637,000 after purchasing an additional 79,777 shares during the period. SG Americas Securities LLC raised its position in shares of ProShares UltraPro Short QQQ by 299.1% in the first quarter. SG Americas Securities LLC now owns 85,373 shares of the company’s stock valued at $895,000 after purchasing an additional 63,983 shares during the period. Finally, Simplex Trading LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $4,830,000.

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.