ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 2.6% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price dropped 2.6% on Wednesday . The stock traded as low as $36.44 and last traded at $36.45. Approximately 56,865,725 shares were traded during trading, an increase of 37% from the average daily volume of 41,542,150 shares. The stock had previously closed at $37.44.

ProShares UltraPro Short QQQ Trading Down 1.1 %

The business has a 50-day moving average price of $31.91 and a 200-day moving average price of $32.93.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.4823 dividend. This represents a $1.93 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Peoples Bank KS acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $62,000. Centerpoint Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 20.0% during the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after buying an additional 1,000 shares during the period. World Investment Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 51.0% in the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after buying an additional 9,463 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at $360,000. Finally, SBI Securities Co. Ltd. acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter worth $423,000.

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.