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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Thursday . The stock had previously closed at $34.14, but opened at $34.97. ProShares UltraPro Short QQQ shares last traded at $34.6730, with a volume of 13,903,616 shares.

ProShares UltraPro Short QQQ Stock Up 2.4%

The firm’s 50-day moving average is $39.58 and its two-hundred day moving average is $48.18.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors have recently bought and sold shares of SQQQ. Tidal Investments LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 119.8% in the 2nd quarter. Tidal Investments LLC now owns 12,500 shares of the company’s stock valued at $463,000 after purchasing an additional 6,813 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in ProShares UltraPro Short QQQ in the second quarter valued at about $46,000. Corient Private Wealth LP lifted its stake in ProShares UltraPro Short QQQ by 283.4% in the second quarter. Corient Private Wealth LP now owns 12,253 shares of the company’s stock valued at $445,000 after buying an additional 9,057 shares during the period. PayPay Securities Corp lifted its stake in ProShares UltraPro Short QQQ by 131.4% in the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after buying an additional 1,286 shares during the period. Finally, Trivest Advisors Ltd bought a new position in ProShares UltraPro Short QQQ during the second quarter worth about $14,194,000.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.