ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price gapped down before the market opened on Monday . The stock had previously closed at $28.80, but opened at $25.45. ProShares UltraPro Short QQQ shares last traded at $25.99, with a volume of 44,379,418 shares changing hands.

ProShares UltraPro Short QQQ Trading Down 11.7%

The stock’s fifty day moving average price is $36.44 and its 200 day moving average price is $32.75.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a dividend of $0.4823 per share. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 7.59%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in ProShares UltraPro Short QQQ during the 1st quarter worth approximately $27,000. Redwood Park Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 69.3% in the 1st quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock worth $34,000 after purchasing an additional 363 shares during the period. PayPay Securities Corp boosted its holdings in shares of ProShares UltraPro Short QQQ by 85.9% in the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock worth $60,000 after purchasing an additional 719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in ProShares UltraPro Short QQQ during the 1st quarter valued at $100,000. Finally, Centerpoint Advisors LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after buying an additional 1,000 shares during the period.

ProShares UltraPro Short QQQ Company Profile

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.