ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up - Here's Why

Key Points

• SQQQ shares gapped up pre-market from $77.45 to an $81.70 open and were last quoted at $80.6250 on heavy volume of 14,100,665 shares.
• The fund seeks daily results equal to **three times the inverse of the NASDAQ-100**, meaning it is a leveraged short vehicle that uses derivatives to deliver -3x daily performance.
• ProShares paid a quarterly dividend of $0.6384 per share (ex-dividend March 25, paid March 31), implying a $2.55 annualized payout and a 3.2% yield, while institutional investors added new stakes — notably Goldman Sachs (~$7.7M) and Two Seas Capital (~$9.8M).

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) shares gapped up prior to trading on Thursday . The stock had previously closed at $77.45, but opened at $81.70. ProShares UltraPro Short QQQ shares last traded at $80.6250, with a volume of 14,100,665 shares changing hands.

ProShares UltraPro Short QQQ Stock Performance

The business has a 50 day moving average price of $72.26 and a 200-day moving average price of $71.44.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.6384 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $2.55 annualized dividend and a dividend yield of 3.2%.

Institutional Trading of ProShares UltraPro Short QQQ

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new stake in ProShares UltraPro Short QQQ during the first quarter worth approximately $7,668,000. JPMorgan Chase & Co. acquired a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at $400,000. EverSource Wealth Advisors LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 43.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 16,499 shares of the company's stock worth $323,000 after purchasing an additional 4,999 shares during the period. Two Seas Capital LP purchased a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth $9,785,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $198,000.

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.

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