ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 1-Year Low – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low during trading on Tuesday . The stock traded as low as $25.30 and last traded at $25.32, with a volume of 134954899 shares trading hands. The stock had previously closed at $28.80.

ProShares UltraPro Short QQQ Stock Performance

The business has a 50-day moving average price of $36.30 and a two-hundred day moving average price of $32.68.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.4823 dividend. This represents a $1.93 annualized dividend and a dividend yield of 7.62%. The ex-dividend date was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of the business. IMC Chicago LLC bought a new position in ProShares UltraPro Short QQQ in the first quarter valued at approximately $17,319,000. Sollinda Capital Management LLC bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $13,933,000. Squarepoint Ops LLC bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $7,334,000. Smithfield Trust Co grew its stake in shares of ProShares UltraPro Short QQQ by 503.5% during the first quarter. Smithfield Trust Co now owns 272,200 shares of the company’s stock worth $10,436,000 after purchasing an additional 227,100 shares during the period. Finally, Barclays PLC increased its holdings in ProShares UltraPro Short QQQ by 157.8% in the third quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing 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.