ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 52-Week Low at $6.93

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during trading on Monday . The company traded as low as $6.93 and last traded at $9.77, with a volume of 15476891 shares trading hands. The stock had previously closed at $9.70.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $10.18.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were issued a dividend of $0.1605 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.63%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 369.2% during the 4th quarter. Larson Financial Group LLC now owns 2,116 shares of the company’s stock valued at $28,000 after acquiring an additional 1,665 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in ProShares UltraPro Short QQQ by 140.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,201 shares of the company’s stock valued at $30,000 after purchasing an additional 1,287 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 450.5% in the first quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock valued at $32,000 after purchasing an additional 2,500 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth $41,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in ProShares UltraPro Short QQQ by 438.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock valued at $85,000 after buying an additional 6,580 shares during the last quarter.

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.