Short Interest in ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Grows By 20.9%

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 14,290,000 shares, a growth of 20.9% from the March 15th total of 11,820,000 shares. Approximately 21.6% of the company’s stock are short sold. Based on an average daily trading volume, of 81,477,100 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC bought a new position in ProShares UltraPro Short QQQ during the first quarter valued at $17,319,000. Sollinda Capital Management LLC purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $13,933,000. Squarepoint Ops LLC bought a new position in ProShares UltraPro Short QQQ during the fourth quarter worth about $7,334,000. Barclays PLC raised its position in shares of ProShares UltraPro Short QQQ by 157.8% in the third 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 during the period. Finally, Ridgepath Capital Management LLC boosted its holdings in ProShares UltraPro Short QQQ by 761.2% in the 4th quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock worth $3,218,000 after buying an additional 91,348 shares during the period.

ProShares UltraPro Short QQQ Price Performance

SQQQ traded up $3.63 during mid-day trading on Monday, reaching $42.27. 62,950,482 shares of the stock were exchanged, compared to its average volume of 84,705,102. ProShares UltraPro Short QQQ has a 1 year low of $26.21 and a 1 year high of $64.65. The company has a 50 day moving average price of $35.64 and a two-hundred day moving average price of $33.21.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a $0.4823 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $1.93 annualized dividend and a yield of 4.56%.

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.