ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 12.5% – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shot up 12.5% on Thursday . The stock traded as high as $41.26 and last traded at $41.19. 27,242,244 shares were traded during mid-day trading, a decline of 35% from the average session volume of 41,856,381 shares. The stock had previously closed at $36.60.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day moving average price of $32.09 and a two-hundred day moving average price of $32.96.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.4823 dividend. This represents a $1.93 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors have recently bought and sold shares of the stock. Peoples Bank KS bought a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at $62,000. Centerpoint Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 20.0% during the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after purchasing an additional 1,000 shares in the last quarter. World Investment Advisors LLC boosted its holdings in ProShares UltraPro Short QQQ by 51.0% during the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after purchasing an additional 9,463 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in ProShares UltraPro Short QQQ during the fourth quarter worth about $360,000. Finally, SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth about $423,000.

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.