ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 5.1% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 5.1% during mid-day trading on Tuesday . The stock traded as low as $29.02 and last traded at $28.85. Approximately 42,141,544 shares traded hands during trading, a decline of 21% from the average daily volume of 53,335,797 shares. The stock had previously closed at $30.40.

ProShares UltraPro Short QQQ Stock Down 1.3 %

The stock’s 50 day moving average is $30.19 and its 200-day moving average is $36.51.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.8168 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Peoples Bank KS purchased a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $62,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $29,000. SG Americas Securities LLC increased its position in ProShares UltraPro Short QQQ by 25.5% during the 3rd quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock valued at $134,000 after buying an additional 3,679 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in ProShares UltraPro Short QQQ by 6.2% during the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after buying an additional 3,822 shares during the last quarter. Finally, World Investment Advisors LLC boosted its holdings in ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after acquiring an additional 9,463 shares in the last quarter.

About ProShares UltraPro Short QQQ

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.