ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 2.6% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) fell 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 Stock Down 1.1 %

The business’s 50 day moving average is $31.91 and its 200-day moving average is $32.93.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.4823 dividend. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 5.21%.

Institutional Trading of ProShares UltraPro Short QQQ

Several hedge funds have recently added to or reduced their stakes in SQQQ. Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $7,334,000. Raffles Associates LP bought a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at $623,000. Tower Research Capital LLC TRC grew its position in ProShares UltraPro Short QQQ by 6,510.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 33,054 shares of the company’s stock worth $1,029,000 after purchasing an additional 32,554 shares during the last quarter. DRW Securities LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth about $3,155,000. Finally, Headlands Technologies LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at about $2,922,000.

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.