ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Large Decline in Short Interest

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 11,820,000 shares, a decline of 28.7% from the February 28th total of 16,570,000 shares. Approximately 17.4% of the company’s stock are short sold. Based on an average trading volume of 64,990,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SQQQ. Peoples Bank KS acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $62,000. Centerpoint Advisors LLC grew its stake 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. World Investment Advisors LLC raised its holdings in ProShares UltraPro Short QQQ by 51.0% in the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after acquiring an additional 9,463 shares during the period. Foundations Investment Advisors LLC acquired a new position in ProShares UltraPro Short QQQ during the 4th quarter worth $360,000. Finally, SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $423,000.

ProShares UltraPro Short QQQ Stock Up 8.0 %

Shares of ProShares UltraPro Short QQQ stock traded up $2.83 during midday trading on Friday, reaching $38.30. 86,387,362 shares of the company’s stock traded hands, compared to its average volume of 40,881,418. ProShares UltraPro Short QQQ has a 52 week low of $26.21 and a 52 week high of $64.95. The company’s 50 day simple moving average is $31.55 and its 200 day simple moving average is $33.05.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th will be issued a dividend of $0.4823 per share. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $1.93 annualized dividend and a yield of 5.04%.

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.