ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 8.3% – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares shot up 8.3% on Monday . The company traded as high as $37.23 and last traded at $37.32. 16,968,286 shares were traded during mid-day trading, a decline of 73% from the average session volume of 62,271,230 shares. The stock had previously closed at $34.47.

ProShares UltraPro Short QQQ Price Performance

The business’s 50 day moving average is $30.05 and its two-hundred day moving average is $33.64.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of SQQQ. CWA Asset Management Group LLC bought a new position in ProShares UltraPro Short QQQ during the third quarter valued at approximately $133,000. Schwallier Wealth Management LLC grew its position in ProShares UltraPro Short QQQ by 14.3% during the third quarter. Schwallier Wealth Management LLC now owns 80,000 shares of the company’s stock valued at $591,000 after acquiring an additional 10,000 shares during the last quarter. Smithfield Trust Co grew its position in ProShares UltraPro Short QQQ by 138.8% during the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after acquiring an additional 444,000 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in ProShares UltraPro Short QQQ by 6.2% during the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after acquiring an additional 3,822 shares during the last quarter. Finally, RBF Capital LLC grew its position in ProShares UltraPro Short QQQ by 230.7% during the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after acquiring an additional 1,166,014 shares during the last quarter.

ProShares UltraPro Short QQQ Company Profile

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.