ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 4.2% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 4.2% during trading on Friday . The company traded as low as $28.97 and last traded at $29.39. Approximately 15,008,210 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 52,739,352 shares. The stock had previously closed at $30.69.

ProShares UltraPro Short QQQ Stock Down 5.7 %

The company has a 50 day simple moving average of $31.04 and a two-hundred day simple moving average of $37.15.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8168 per share. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC grew its holdings in ProShares UltraPro Short QQQ by 40.6% during 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. RBF Capital LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 230.7% in 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. Smithfield Trust Co increased its position in ProShares UltraPro Short QQQ by 138.8% in the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after purchasing an additional 444,000 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in ProShares UltraPro Short QQQ during the third quarter valued at $1,848,000. Finally, Barclays PLC lifted its position in ProShares UltraPro Short QQQ by 157.8% during the third quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing an additional 124,500 shares during 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.