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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped down prior to trading on Thursday . The stock had previously closed at $7.27, but opened at $7.04. ProShares UltraPro Short QQQ shares last traded at $7.13, with a volume of 28,215,348 shares.

ProShares UltraPro Short QQQ Trading Down 1.8 %

The stock has a 50 day moving average price of $8.10 and a two-hundred day moving average price of $9.12.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.1495 per share. The ex-dividend date was Wednesday, September 25th.

Institutional Trading of ProShares UltraPro Short QQQ

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in shares of ProShares UltraPro Short QQQ by 378.6% during the first 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 boosted its stake in shares of ProShares UltraPro Short QQQ by 113.4% during the 2nd quarter. IMC Chicago LLC now owns 2,755,806 shares of the company’s stock worth $22,818,000 after acquiring an additional 1,464,325 shares in the last quarter. DRW Securities LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at about $1,481,000. Raffles Associates LP raised its stake in shares of ProShares UltraPro Short QQQ by 250.0% during the 2nd quarter. Raffles Associates LP now owns 175,000 shares of the company’s stock worth $1,449,000 after buying an additional 125,000 shares during the period. Finally, Creative Planning raised its position in ProShares UltraPro Short QQQ by 150.1% during the third quarter. Creative Planning now owns 115,582 shares of the company’s stock worth $854,000 after acquiring an additional 69,363 shares during the period.

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.