ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 7.2% – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price shot up 7.2% on Thursday . The company traded as high as $32.54 and last traded at $32.58. 87,081,248 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 56,236,117 shares. The stock had previously closed at $30.39.

ProShares UltraPro Short QQQ Price Performance

The business’s fifty day moving average price is $29.15 and its two-hundred day moving average price is $34.17.

ProShares UltraPro Short QQQ Increases Dividend

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

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Large investors have recently made changes to their positions in the business. RBF Capital LLC grew its stake in 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 worth $12,352,000 after buying an additional 1,166,014 shares during the last quarter. IMC Chicago LLC raised its stake in ProShares UltraPro Short QQQ by 40.6% in the third 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 during the last quarter. Sollinda Capital Management LLC acquired a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth about $13,933,000. Smithfield Trust Co grew its stake in shares of ProShares UltraPro Short QQQ by 138.8% during the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after acquiring an additional 444,000 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at about $1,848,000.

ProShares UltraPro Short QQQ Company Profile

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.