ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares to Reverse Split on Thursday, November 20th

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) are scheduled to reverse split on Thursday, November 20th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 19th.

ProShares UltraPro Short QQQ Stock Performance

Shares of SQQQ stock opened at $13.59 on Wednesday. The stock’s fifty day moving average price is $15.08 and its 200 day moving average price is $19.15. ProShares UltraPro Short QQQ has a 1-year low of $12.68 and a 1-year high of $57.80.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were issued a $0.2427 dividend. This represents a $0.97 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Wednesday, September 24th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently modified their holdings of SQQQ. Optiver Holding B.V. grew its position in ProShares UltraPro Short QQQ by 1,685.7% during the 3rd quarter. Optiver Holding B.V. now owns 309,795 shares of the company’s stock worth $4,718,000 after purchasing an additional 292,446 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 139.8% during the third quarter. EverSource Wealth Advisors LLC now owns 39,558 shares of the company’s stock worth $602,000 after buying an additional 23,059 shares during the period. Citigroup Inc. lifted its stake in shares of ProShares UltraPro Short QQQ by 17.5% during the third quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after buying an additional 106,243 shares during the period. Smithfield Trust Co raised its stake in ProShares UltraPro Short QQQ by 330.6% in the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after acquiring an additional 429,640 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ProShares UltraPro Short QQQ by 804.3% in the third quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after purchasing an additional 164,440 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.