ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Stock Price Down 4.4% – Time to Sell?

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) traded down 4.4% during mid-day trading on Friday . The stock traded as low as $24.88 and last traded at $25.0910. 3,283 shares traded hands during trading, an increase of 44% from the average session volume of 2,279 shares. The stock had previously closed at $26.24.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

The business’s 50-day moving average price is $31.92 and its 200 day moving average price is $36.37. The company has a market cap of $1.25 million, a P/E ratio of 29.23 and a beta of 2.43.

ProShares Ultra Nasdaq Cloud Computing ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were issued a dividend of $0.1216 per share. The ex-dividend date was Wednesday, December 24th. This is an increase from ProShares Ultra Nasdaq Cloud Computing ETF’s previous quarterly dividend of $0.08. This represents a $0.49 dividend on an annualized basis and a yield of 1.9%.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.