ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 12-Month Low – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares reached a new 52-week low during trading on Monday . The company traded as low as $31.37 and last traded at $31.39, with a volume of 19881195 shares traded. The stock had previously closed at $32.58.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50 day moving average price of $35.36 and a two-hundred day moving average price of $40.74.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were paid a $0.7475 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQQQ. Strategic Investment Solutions Inc. IL acquired a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth about $41,000. Jeppson Wealth Management LLC bought a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at about $88,000. PCG Wealth Advisors LLC increased its position in shares of ProShares UltraPro Short QQQ by 34.6% in the second quarter. PCG Wealth Advisors LLC now owns 17,500 shares of the company’s stock valued at $145,000 after acquiring an additional 4,500 shares during the last quarter. Finally, TFB Advisors LLC bought a new stake in ProShares UltraPro Short QQQ during the third quarter worth about $131,000.

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.