ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 4.2% – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares traded down 4.2% during trading on Wednesday . The company traded as low as $75.51 and last traded at $75.8220. 18,216,999 shares changed hands during trading, a decline of 66% from the average session volume of 54,131,578 shares. The stock had previously closed at $79.14.

ProShares UltraPro Short QQQ Trading Up 7.2%

The business has a fifty day simple moving average of $71.01 and a 200-day simple moving average of $71.56.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.6384 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.55 annualized dividend and a dividend yield of 3.1%.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in ProShares UltraPro Short QQQ in the third quarter worth approximately $33,368,000. Q Fund Management Hong Kong Ltd acquired a new stake in ProShares UltraPro Short QQQ in the second quarter valued at approximately $11,051,000. TB Alternative Assets Ltd. bought a new stake in shares of ProShares UltraPro Short QQQ during the third quarter valued at approximately $8,394,000. Two Seas Capital LP bought a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $9,785,000. Finally, Smithfield Trust Co raised its position in shares of ProShares UltraPro Short QQQ by 330.6% during the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares during the period.

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.