ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 4.5% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price fell 4.5% on Wednesday . The company traded as low as $69.43 and last traded at $69.62. 31,903,022 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 52,083,563 shares. The stock had previously closed at $72.87.

ProShares UltraPro Short QQQ Trading Up 0.9%

The company has a 50 day simple moving average of $68.38 and a 200 day simple moving average of $73.03.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were paid a $1.5055 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $6.02 annualized dividend and a yield of 8.6%. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Large investors have recently modified their holdings of the business. Larson Financial Group LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. MAI Capital Management purchased a new stake in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $38,000. Parallel Advisors LLC raised its holdings in ProShares UltraPro Short QQQ by 105.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after acquiring an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in ProShares UltraPro Short QQQ in the 4th quarter worth approximately $137,000. Finally, Osaic Holdings Inc. lifted its stake in ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares in the last quarter.

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. 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.