ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 52-Week Low – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares hit a new 52-week low on Friday . The stock traded as low as $28.76 and last traded at $28.81, with a volume of 5092560 shares traded. The stock had previously closed at $29.57.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50 day moving average price is $33.83 and its 200-day moving average price is $39.50.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.7475 per share. The ex-dividend date was Wednesday, September 25th. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SQQQ. RBF Capital LLC boosted 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 purchasing an additional 1,166,014 shares in the last quarter. IMC Chicago LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 40.6% in the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after buying an additional 1,119,452 shares in the last quarter. Smithfield Trust Co boosted its holdings in shares of ProShares UltraPro Short QQQ by 138.8% in the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after buying an additional 444,000 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $1,848,000. Finally, DRW Securities LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $1,481,000.

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.