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

Key Points

• SQQQ gapped down from a $80.25 close to a $76.49 open and was last trading around $75.10, down about 4.1% on heavy volume (~24.8M shares).
• The fund raised its quarterly dividend to $1.5055 (annualized $6.02), implying a ~7.8% yield; the ex‑dividend date was Dec. 24 and the dividend was paid Dec. 31.
• ProShares UltraPro Short QQQ is a 3x inverse leveraged ETF that seeks daily returns equal to three times the inverse of the NASDAQ‑100, making it a short‑term trading/hedging tool that uses derivatives.

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) gapped down prior to trading on Monday . The stock had previously closed at $80.25, but opened at $76.49. ProShares UltraPro Short QQQ shares last traded at $75.0960, with a volume of 24,831,860 shares trading hands.

ProShares UltraPro Short QQQ Trading Down 4.1%

The company's fifty day simple moving average is $69.94 and its 200-day simple moving average is $71.57.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a dividend of $1.5055 per share. This is a boost from ProShares UltraPro Short QQQ's previous quarterly dividend of $1.21. This represents a $6.02 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Wednesday, December 24th.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. MAI Capital Management acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at approximately $38,000. Parallel Advisors LLC boosted its position in ProShares UltraPro Short QQQ by 105.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company's stock worth $30,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $137,000. Finally, Osaic Holdings Inc. increased its holdings in shares of ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company's stock valued at $42,000 after purchasing an additional 696 shares in the last quarter.

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. 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.

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