ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 12-Month Low – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.80 and last traded at $6.81, with a volume of 23588336 shares traded. The stock had previously closed at $7.23.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50-day moving average is $38.50 and its 200-day moving average is $43.52.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were given a dividend of $0.7475 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds have recently bought and sold shares of the company. IMC Chicago LLC boosted its position in ProShares UltraPro Short QQQ by 40.6% during the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock worth $28,638,000 after acquiring an additional 1,119,452 shares during the last quarter. Jane Street Group LLC raised its stake in ProShares UltraPro Short QQQ by 378.6% during the first quarter. Jane Street Group LLC now owns 1,947,014 shares of the company’s stock worth $20,405,000 after purchasing an additional 1,540,169 shares during the period. Lane Generational LLC raised its stake in ProShares UltraPro Short QQQ by 18.7% during the first quarter. Lane Generational LLC now owns 320,799 shares of the company’s stock worth $3,362,000 after purchasing an additional 50,645 shares during the period. Smithfield Trust Co raised its stake in ProShares UltraPro Short QQQ by 26.7% during the first quarter. Smithfield Trust Co now owns 231,500 shares of the company’s stock worth $2,427,000 after purchasing an additional 48,800 shares during the period. Finally, DRW Securities LLC purchased a new position in ProShares UltraPro Short QQQ during the second quarter worth approximately $1,481,000.

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.