ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up - Time to Buy?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) experienced a notable increase before the market opened on Thursday. The stock, which closed at $32.51, started at $34.13, reflecting a significant gap up. The latest trading price stood at $33.67, with a trading volume of 17,219,455 shares, indicating robust market activity.

ProShares UltraPro Short QQQ Stock Performance

The stock's performance can be analyzed through its moving averages. The 50-day simple moving average is at $29.49, while the 200-day simple moving average is at $33.78, suggesting that the stock might be showing positive momentum in the near term.

ProShares UltraPro Short QQQ Increases Dividend

In a positive development for shareholders, ProShares announced an increase in its dividend. A dividend of $0.8168 per share was paid on December 31, 2022, to stockholders who were on record as of December 23, 2022. This increase from the previous dividend of $0.75 highlights the company's commitment to returning value to its investors.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Recent activities from institutional investors have shown an increased interest in ProShares UltraPro Short QQQ. Capital Investment Advisory Services LLC initiated a new position in the stock, investing approximately $2.37 million in the fourth quarter. Other firms, such as Mirae Asset Global Investments Co. Ltd. and Compagnie Lombard Odier SCmA, also added to their holdings significantly. Ridgepath Capital Management LLC and Foundations Investment Advisors LLC also made moves to increase their positions, showcasing confidence in the stock’s potential.

ProShares UltraPro Short QQQ Company Profile

ProShares UltraPro Short QQQ aims to deliver daily results that correspond to three times the inverse of the daily performance of the NASDAQ-100 Index. This index comprises 100 of the major non-financial companies listed on the NASDAQ Stock Market, making the fund a popular choice among investors looking to bet against the NASDAQ 100.

Should You Invest in ProShares UltraPro Short QQQ Right Now?

Before making investment decisions regarding ProShares UltraPro Short QQQ, it is essential to consider expert opinions. Currently, analysts have given the stock a 'Hold' rating. Recent evaluations suggest that while there may be potential in this ETF, there are at least five other stocks that top analysts recommend over SQQQ.

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