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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock is going 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 closing bell on Wednesday, November 6th.

ProShares UltraPro Short QQQ Stock Performance

NASDAQ:SQQQ opened at $7.44 on Friday. The firm’s 50-day moving average is $7.81 and its 200-day moving average is $8.85. ProShares UltraPro Short QQQ has a 52-week low of $6.85 and a 52-week high of $20.04.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced 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 of this dividend was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

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

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.