ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 3% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price fell 3% on Wednesday . The stock traded as low as $65.19 and last traded at $65.24. 8,647,114 shares changed hands during trading, a decline of 62% from the average session volume of 22,999,148 shares. The stock had previously closed at $67.24.

ProShares UltraPro Short QQQ Trading Down 2.7%

The business has a fifty day moving average price of $70.26 and a 200 day moving average price of $83.47.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th will be paid a $1.5055 dividend. The ex-dividend date is Wednesday, December 24th. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 annualized dividend and a dividend yield of 9.2%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in shares of ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares in the last quarter. Parallel Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after purchasing an additional 1,022 shares during the period. PayPay Securities Corp boosted its stake in ProShares UltraPro Short QQQ by 100.8% during the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock worth $61,000 after buying an additional 1,568 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in ProShares UltraPro Short QQQ by 16,818.2% in the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock valued at $71,000 after buying an additional 1,850 shares during the period. Finally, MAI Capital Management acquired a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $38,000.

ProShares UltraPro Short QQQ Company Profile

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.