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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares fell 4.2% during trading on Friday . The stock traded as low as $28.97 and last traded at $29.39. 15,008,210 shares were traded during mid-day trading, a decline of 72% from the average session volume of 52,739,352 shares. The stock had previously closed at $30.69.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day simple moving average of $31.04 and a two-hundred day simple moving average of $37.15.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peoples Bank KS bought a new position in ProShares UltraPro Short QQQ during the fourth quarter valued at $62,000. Strategic Investment Solutions Inc. IL bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $29,000. SG Americas Securities LLC grew its holdings 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 purchasing an additional 3,679 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in ProShares UltraPro Short QQQ by 6.2% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock worth $486,000 after purchasing an additional 3,822 shares during the period. Finally, World Investment Advisors LLC lifted its stake 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 purchasing an additional 9,463 shares during 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.