ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 8.3% – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price were up 8.3% during mid-day trading on Monday . The stock traded as high as $37.23 and last traded at $37.32. Approximately 16,968,286 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 62,271,230 shares. The stock had previously closed at $34.47.

ProShares UltraPro Short QQQ Stock Up 1.1 %

The firm’s fifty day moving average price is $30.05 and its 200-day moving average price is $33.64.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8168 dividend. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $2,374,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at $439,000. Compagnie Lombard Odier SCmA boosted its holdings in ProShares UltraPro Short QQQ by 3,357.5% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock valued at $517,000 after acquiring an additional 16,116 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at $423,000. Finally, Ridgepath Capital Management LLC boosted its holdings in ProShares UltraPro Short QQQ by 761.2% in the fourth quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock valued at $3,218,000 after acquiring an additional 91,348 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.