ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 3.9% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price fell 3.9% during trading on Friday . The stock traded as low as $37.28 and last traded at $38.01. 25,966,037 shares changed hands during trading, a decline of 60% from the average session volume of 64,978,531 shares. The stock had previously closed at $39.54.

ProShares UltraPro Short QQQ Stock Performance

The firm’s 50-day simple moving average is $30.34 and its 200 day simple moving average is $33.71.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8168 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Peoples Bank KS bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at about $62,000. Centerpoint Advisors LLC increased its position in ProShares UltraPro Short QQQ by 20.0% during the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after acquiring an additional 1,000 shares during the period. Foundations Investment Advisors LLC acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth about $360,000. SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at about $423,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $439,000.

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.