ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 5.1% – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shot up 5.1% on Tuesday . The company traded as high as $37.91 and last traded at $37.85. 12,674,286 shares changed hands during trading, a decline of 67% from the average session volume of 38,995,159 shares. The stock had previously closed at $36.02.

ProShares UltraPro Short QQQ Trading Up 4.4 %

The stock has a 50-day simple moving average of $30.63 and a two-hundred day simple moving average of $33.52.

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

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Peoples Bank KS bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $62,000. Centerpoint Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after acquiring an additional 1,000 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $360,000. SBI Securities Co. Ltd. bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $423,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $439,000.

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.