ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 4.7% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares were down 4.7% during trading on Tuesday . The company traded as low as $84.89 and last traded at $85.1950. Approximately 13,190,919 shares changed hands during trading, a decline of 76% from the average daily volume of 54,315,324 shares. The stock had previously closed at $89.42.

ProShares UltraPro Short QQQ Trading Down 9.0%

The firm’s fifty day moving average price is $71.88 and its 200-day moving average price is $71.42.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given 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 Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at $33,368,000. Citigroup Inc. raised its position in shares of ProShares UltraPro Short QQQ by 17.5% during the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after buying an additional 106,243 shares in the last quarter. Flow Traders U.S. LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 168.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after acquiring an additional 421,972 shares during the period. Q Fund Management Hong Kong Ltd bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter valued at approximately $11,051,000. Finally, Smithfield Trust Co increased its stake 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 valued at $8,523,000 after acquiring an additional 429,640 shares during the period.

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. 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.