ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 2.9% – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares were down 2.9% on Thursday . The stock traded as low as $30.15 and last traded at $30.23. Approximately 13,944,584 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 31,115,725 shares. The stock had previously closed at $31.14.

ProShares UltraPro Short QQQ Price Performance

The firm’s 50-day moving average price is $31.89 and its two-hundred day moving average price is $37.82.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Large investors have recently added to or reduced their stakes in the company. RBF Capital LLC grew its holdings in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after purchasing an additional 1,166,014 shares during the last quarter. IMC Chicago LLC raised its stake in ProShares UltraPro Short QQQ by 40.6% in the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after buying an additional 1,119,452 shares during the last quarter. Smithfield Trust Co boosted its holdings in ProShares UltraPro Short QQQ by 138.8% in the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after acquiring an additional 444,000 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth about $1,848,000. Finally, DRW Securities LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the second quarter valued at about $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.