ProShares UltraPro Short QQQ Stock Set to Reverse Split on Thursday, November 7th (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock is scheduled to reverse split on the morning of Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.

ProShares UltraPro Short QQQ Stock Performance

NASDAQ:SQQQ opened at $6.92 on Wednesday. The firm has a 50-day simple moving average of $7.85 and a two-hundred day simple moving average of $8.90. ProShares UltraPro Short QQQ has a fifty-two week low of $6.85 and a fifty-two week high of $22.56.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were given a dividend of $0.1495 per share. The ex-dividend date was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQQQ. Strategic Investment Solutions Inc. IL purchased a new position in shares of ProShares UltraPro Short QQQ in the second quarter worth $29,000. International Assets Investment Management LLC bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $41,000. Whittier Trust Co. of Nevada Inc. lifted its stake in ProShares UltraPro Short QQQ by 438.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock valued at $85,000 after acquiring an additional 6,580 shares during the period. Jeppson Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth approximately $88,000. Finally, Camarda Financial Advisors LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the first quarter valued at approximately $107,000.

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.