ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 12.5% – Should You Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 12.5% during trading on Thursday . The stock traded as high as $41.26 and last traded at $41.19. Approximately 27,242,244 shares were traded during trading, a decline of 35% from the average daily volume of 41,856,381 shares. The stock had previously closed at $36.60.

ProShares UltraPro Short QQQ Stock Up 18.4 %

The firm’s fifty day moving average price is $32.84 and its 200 day moving average price is $33.09.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a dividend of $0.4823 per share. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 3.83%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently bought and sold shares of SQQQ. Peoples Bank KS acquired a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $62,000. Centerpoint Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 20.0% in 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 purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth about $360,000. SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at about $423,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at about $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.