ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 12-Month Low – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.93 and last traded at $22.09, with a volume of 43803435 shares trading hands. The stock had previously closed at $22.27.

ProShares UltraPro Short QQQ Stock Down 1.6%

The business’s 50 day moving average is $31.08 and its 200-day moving average is $31.20.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a dividend of $0.4823 per share. This represents a $1.93 annualized dividend and a yield of 8.80%. The ex-dividend date was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC purchased a new stake in ProShares UltraPro Short QQQ during the 1st quarter worth approximately $27,000. Redwood Park Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 69.3% in the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock valued at $34,000 after acquiring an additional 363 shares in the last quarter. PayPay Securities Corp boosted its stake in shares of ProShares UltraPro Short QQQ by 85.9% in the first quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock worth $60,000 after acquiring an additional 719 shares during the last quarter. Game Plan Financial Advisors LLC increased its position in shares of ProShares UltraPro Short QQQ by 16,818.2% during the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock worth $71,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at $100,000.

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.