ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 52-Week Low – Time to Sell?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during trading on Thursday . The company traded as low as $27.09 and last traded at $27.27, with a volume of 29101372 shares changing hands. The stock had previously closed at $28.06.

ProShares UltraPro Short QQQ Price Performance

The company’s 50-day simple moving average is $29.36 and its two-hundred day simple moving average is $35.45.

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 issued a $0.8168 dividend. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of ProShares UltraPro Short QQQ

Several hedge funds have recently bought and sold shares of the stock. RBF Capital LLC lifted its position in shares of ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after buying an additional 1,166,014 shares in the last quarter. IMC Chicago LLC raised its stake 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 worth $28,638,000 after acquiring an additional 1,119,452 shares during the period. Sollinda Capital Management LLC purchased a new position in ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $13,933,000. Smithfield Trust Co boosted its position in shares of 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 period. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the third quarter worth $1,848,000.

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.