ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 5.1% – Here’s What Happened

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) dropped 5.1% during mid-day trading on Monday . The stock traded as low as $75.23 and last traded at $75.2040. Approximately 13,391,720 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 21,355,955 shares. The stock had previously closed at $79.21.

ProShares UltraPro Short QQQ Stock Performance

The company’s 50-day moving average price is $73.65 and its 200-day moving average price is $91.49.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were paid a $1.2136 dividend. This represents a $4.85 annualized dividend and a dividend yield of 6.7%. This is a positive change from ProShares UltraPro Short QQQ’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Maxi Investments CY Ltd purchased a new stake in ProShares UltraPro Short QQQ during the 3rd quarter worth about $1,980,000. Hamilton Wealth LLC acquired a new stake in ProShares UltraPro Short QQQ in the third quarter valued at approximately $152,000. Flow Traders U.S. LLC raised its holdings in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after acquiring an additional 421,972 shares in the last quarter. Cantor Fitzgerald L. P. lifted its stake in ProShares UltraPro Short QQQ by 38.3% in the third quarter. Cantor Fitzgerald L. P. now owns 61,142 shares of the company’s stock worth $931,000 after acquiring an additional 16,944 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after acquiring an additional 416,119 shares in the last quarter.

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.