ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 12-Month Low – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $63.37 and last traded at $63.5070, with a volume of 10935372 shares trading hands. The stock had previously closed at $65.07.

ProShares UltraPro Short QQQ Stock Performance

The business has a 50-day simple moving average of $67.75 and a two-hundred day simple moving average of $76.61.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were issued a dividend of $1.5055 per share. The ex-dividend date was Wednesday, December 24th. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 annualized dividend and a yield of 9.4%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its holdings in shares of ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares during the last quarter. Parallel Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after acquiring an additional 1,022 shares during the last quarter. FNY Investment Advisers LLC grew its position in shares of ProShares UltraPro Short QQQ by 25.7% in the 4th quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock valued at $361,000 after acquiring an additional 1,078 shares during the period. PayPay Securities Corp increased its stake in shares of ProShares UltraPro Short QQQ by 100.8% during the 2nd quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock worth $61,000 after purchasing an additional 1,568 shares during the last quarter. Finally, MAI Capital Management bought a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at about $38,000.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.