ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 1-Year Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $27.09 and last traded at $27.27, with a volume of 29101372 shares changing hands. The stock had previously closed at $28.06.

ProShares UltraPro Short QQQ Price Performance

The business has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $35.45.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8168 dividend. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently modified their holdings of SQQQ. RBF Capital LLC grew its stake in ProShares UltraPro Short QQQ by 230.7% during the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after acquiring an additional 1,166,014 shares in the last quarter. IMC Chicago LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 40.6% during the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after purchasing an additional 1,119,452 shares during the last quarter. Sollinda Capital Management LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at about $13,933,000. Smithfield Trust Co increased its holdings in shares of ProShares UltraPro Short QQQ by 138.8% in the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after purchasing an additional 444,000 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the third quarter worth about $1,848,000.

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.