ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 4.2% – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares traded down 4.2% on Wednesday . The stock traded as low as $75.51 and last traded at $75.8220. 18,216,999 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 54,131,578 shares. The stock had previously closed at $79.14.

ProShares UltraPro Short QQQ Stock Down 3.5%

The stock’s 50 day moving average is $70.48 and its two-hundred day moving average is $71.45.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.6384 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.3%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the third quarter worth $33,368,000. Q Fund Management Hong Kong Ltd acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $11,051,000. TB Alternative Assets Ltd. bought a new stake in ProShares UltraPro Short QQQ in the third quarter valued at about $8,394,000. Two Seas Capital LP bought a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $9,785,000. Finally, Smithfield Trust Co increased its stake in shares of ProShares UltraPro Short QQQ by 330.6% during the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock valued at $8,523,000 after acquiring an additional 429,640 shares during the period.

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. 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.