ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 4.5% – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price fell 4.5% during trading on Monday . The company traded as low as $29.34 and last traded at $29.38. Approximately 18,736,444 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 30,856,594 shares. The stock had previously closed at $30.75.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day simple moving average of $32.87 and a two-hundred day simple moving average of $38.50.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a dividend of $0.8168 per share. The ex-dividend date is Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. IMC Chicago LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 40.6% in 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 lifted its stake in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after purchasing an additional 1,166,014 shares during the last quarter. Smithfield Trust Co lifted its stake in 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. Kovitz Investment Group Partners LLC bought a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at approximately $1,848,000. Finally, Barclays PLC grew its stake in shares of ProShares UltraPro Short QQQ by 157.8% during the third quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after buying an additional 124,500 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.