ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 2.6% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded down 2.6% during mid-day trading on Wednesday . The stock traded as low as $36.44 and last traded at $36.45. 56,865,725 shares traded hands during trading, an increase of 37% from the average session volume of 41,542,150 shares. The stock had previously closed at $37.44.

ProShares UltraPro Short QQQ Trading Up 18.4 %

The stock’s 50-day moving average is $32.84 and its 200-day moving average is $33.09.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a dividend of $0.4823 per share. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 3.83%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently modified their holdings of SQQQ. Peoples Bank KS bought a new position in ProShares UltraPro Short QQQ in the fourth quarter valued at about $62,000. Centerpoint Advisors LLC raised its holdings in ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after buying an additional 1,000 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $360,000. SBI Securities Co. Ltd. acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $423,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $439,000.

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.