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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped down before the market opened on Monday . The stock had previously closed at $40.04, but opened at $37.25. ProShares UltraPro Short QQQ shares last traded at $36.8560, with a volume of 15,744,873 shares changing hands.

ProShares UltraPro Short QQQ Trading Down 9.4%

The company’s 50-day moving average is $50.17 and its two-hundred day moving average is $63.17.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $29,000. Parallel Advisors LLC lifted its holdings in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ during the third quarter valued at about $63,000. Finally, Sunbelt Securities Inc. purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $137,000.

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. 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.