ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down - Here's What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $22.99, but opened at $22.34. ProShares UltraPro Short QQQ shares last traded at $22.26, with a volume of 27,069,022 shares changing hands.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50-day moving average of $31.08 and a 200 day moving average of $31.20.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a $0.4823 dividend. This represents a $1.93 annualized dividend and a yield of 8.66%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at $27,000. Redwood Park Advisors LLC boosted its position in shares of ProShares UltraPro Short QQQ by 69.3% in the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company's stock worth $34,000 after buying an additional 363 shares during the period. PayPay Securities Corp boosted its position in shares of ProShares UltraPro Short QQQ by 85.9% in the first quarter. PayPay Securities Corp now owns 1,556 shares of the company's stock worth $60,000 after buying an additional 719 shares during the period. Game Plan Financial Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 16,818.2% in the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company's stock worth $71,000 after buying an additional 1,850 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter worth about $100,000.

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.