ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Unusually-High Trading Volume – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares saw an uptick in trading volume on Thursday . 56,821,514 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 45,709,933 shares.The stock last traded at $37.46 and had previously closed at $34.28.

ProShares UltraPro Short QQQ Trading Up 17.6 %

The business’s fifty day moving average price is $34.41 and its 200 day moving average price is $33.26.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a dividend of $0.4823 per share. This represents a $1.93 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC bought a new stake in ProShares UltraPro Short QQQ in the third quarter valued at $1,848,000. Barclays PLC boosted its stake in shares of ProShares UltraPro Short QQQ by 157.8% in the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing an additional 124,500 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 51.0% in the 3rd 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. Peoples Bank KS acquired a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth about $62,000. Finally, Foundations Investment Advisors LLC bought a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at about $360,000.

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.