ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 5.1% – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 5.1% during mid-day trading on Tuesday . The stock traded as low as $29.02 and last traded at $28.85. Approximately 42,141,544 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 53,335,797 shares. The stock had previously closed at $30.40.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50 day moving average is $30.19 and its 200 day moving average is $36.51.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8168 dividend. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently bought and sold shares of the company. Peoples Bank KS purchased a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at about $62,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth about $29,000. SG Americas Securities LLC raised its position 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 lifted its holdings 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 buying an additional 3,822 shares during the period. Finally, World Investment Advisors LLC grew its position in shares of 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 buying 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.