ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 3% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded down 3% during trading on Wednesday . The company traded as low as $65.19 and last traded at $65.24. 8,647,114 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 22,999,148 shares. The stock had previously closed at $67.24.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50 day moving average is $69.86 and its two-hundred day moving average is $83.21.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th will be issued a dividend of $1.5055 per share. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Wednesday, December 24th.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds have recently added to or reduced their stakes in SQQQ. Goldman Sachs Group Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ during the first quarter worth approximately $7,668,000. Lane Generational LLC acquired a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at $4,187,000. Gables Capital Management Inc. raised its position in ProShares UltraPro Short QQQ by 600.0% during the 2nd quarter. Gables Capital Management Inc. now owns 3,500 shares of the company’s stock worth $68,000 after buying an additional 3,000 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth $241,000. Finally, Belvedere Trading LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $249,000.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.