ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 12-Month Low – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $26.31 and last traded at $26.41, with a volume of 34018984 shares changing hands. The stock had previously closed at $26.59.

ProShares UltraPro Short QQQ Stock Down 0.7 %

The firm’s 50-day moving average price is $29.20 and its 200 day moving average price is $35.01.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8168 per share. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors have recently added to or reduced their stakes in SQQQ. IMC Chicago LLC grew its holdings in 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 worth $28,638,000 after acquiring an additional 1,119,452 shares during the last quarter. RBF Capital LLC grew its holdings in ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after acquiring an additional 1,166,014 shares during the last quarter. Smithfield Trust Co grew its holdings in ProShares UltraPro Short QQQ by 138.8% during the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after acquiring an additional 444,000 shares during the last quarter. Sollinda Capital Management LLC bought a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $13,933,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $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.