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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 55,240,000 shares, an increase of 32.5% from the May 31st total of 41,700,000 shares. Based on an average daily trading volume, of 128,276,200 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of ProShares UltraPro Short QQQ by 11.9% in the third quarter. PNC Financial Services Group Inc. now owns 14,123 shares of the company’s stock valued at $289,000 after acquiring an additional 1,500 shares in the last quarter. Per Stirling Capital Management LLC. boosted its holdings in ProShares UltraPro Short QQQ by 4.9% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 15,566 shares of the company’s stock valued at $318,000 after purchasing an additional 725 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $1,022,000. Elevatus Welath Management acquired a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $10,428,000. Finally, VitalStone Financial LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 64.6% in the third quarter. VitalStone Financial LLC now owns 5,225 shares of the company’s stock valued at $107,000 after buying an additional 2,050 shares in the last quarter.

ProShares UltraPro Short QQQ Stock Performance

Shares of SQQQ stock traded down $0.16 during mid-day trading on Monday, hitting $8.12. 139,496,018 shares of the stock were exchanged, compared to its average volume of 131,965,047. The stock’s fifty day simple moving average is $9.79 and its two-hundred day simple moving average is $11.19. ProShares UltraPro Short QQQ has a 12-month low of $7.86 and a 12-month high of $23.34.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th will be paid a dividend of $0.1605 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.64 dividend on an annualized basis and a yield of 7.90%.

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.